Unchained Ethereum's EIP-1559 Will Solve Some Problems But Big Ones Will Remain - Ep.250
Jun 29, 2021
In this engaging conversation, Taylor Monahan, CEO of MyCrypto and expert in blockchain technology, teams up with Tim Beiko, Ethereum Foundation core-dev facilitator, to discuss the transformative Ethereum upgrade, EIP-1559. They dive into why EIP-1559 is vital, its impact on transaction fees, and the future of miner extractable value. Taylor expresses caution about the upgrade's implications for wallet providers, while Tim tackles the controversial relationship between EIP-1559 and Ethereum's sound money narrative, highlighting potential deflationary effects.
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Black Thursday Gas Prices
- Black Thursday highlighted how high volatility and urgent transactions drive up gas prices.
- EIP-1559 and ETH2 aim to mitigate these issues over time.
Black Swan Frequency
- Black swan events will likely decrease as Ethereum matures and becomes less volatile.
- ETH2 plays a role, but overall network maturity is the key factor.
Localized Black Swans
- Localized black swans might become more common on specific rollups or sidechains like Polygon.
- This could lead to smoother operation on the main Ethereum chain.