EIP-1559 update is finally coming to the ethereum 🎉🤩 this includes fixed network fees and dynamic block sizes to serve more transactions when needed

London Mainnet Announcement

EIP-1559 update is finally coming to the ethereum 🎉🤩 this includes fixed network fees and dynamic block sizes to serve more transactions when needed London Mainnet Announcement After a successful testnet deployement, the London upgrade is now ready to be activated on the Ethereum mainnet. It will go live on block 12 965 000, which is expected between August 3-5, 2021. Client Versions In order to be compatible with the London upgrade, node operators will need to... https://blog.ethereum.org/2021/07/15/london-mainnet-announcement/

Jozhe

BNB will also integrate 1559 https://github.com/binance-chain/BEPs/pull/116

BEP-95: Introduce Real-Time Burning Mechanism
1. Summary
This BEP introduces a real-time burning mechanism into the economic model of BSC.
2. Abstract
To speed up the burning process of BNB and mak...

BEP-95: Introduce Real-Time Burning Mechanism by victor-cage · Pull Request #116 · binance-chain/BEPs

Yeah definitely. The problem is that miners can do some problems. In the end, it average transaction fee was 133 gwai before I think it will remain like that where half goes to the miners and half is burning

Rotem

Fees will still be changing, but wallet should always know what you have to set for a fee. Just current fee and you can see expected price increase from number of pending transactions. So should improve user experience

That not quite true. In the end, the priority fee will also fluctuate when network is congested. However, and this is the big news, I predict that half the amount of ETH that is going to miners now will be burned.

Btw, in specific times when there will be a lot of traffic, ether can become deflationary.

That not quite true. In the end, the priority fee will also fluctuate when network is congested. However, and this is the big news, I predict that half the amount of ETH that is going to miners now will be burned.  Btw, in specific times when there will be a lot of traffic, ether can become deflationary.

Jozhe

A group of likeminded people in Crypto are talking about this.