How does EIP-1559 affect transaction fees in the world of digital currencies?

1 answers

• Muhammad AdeelAug 16, 2020 · 5 years ago
  As an expert in the digital currency space, I can confidently say that EIP-1559 will have a significant impact on transaction fees. By introducing a base fee that adjusts based on network congestion, it eliminates the need for users to constantly monitor and adjust their gas prices. This will make transactions more convenient and predictable for users. Additionally, the burning of the base fee will reduce the supply of the currency, which could potentially increase its value. Overall, EIP-1559 is a positive development that will benefit users and improve the efficiency of digital currency transactions.
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