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What are the expected changes in the Ethereum network after the implementation of EIP-1559 on the specified date?
Dhanush BinuApr 18, 2022 · 3 years ago1 answersWhat are the anticipated modifications that will occur in the Ethereum network once EIP-1559 is implemented on the specified date? How will this Ethereum Improvement Proposal impact transaction fees and block rewards?
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- As an expert at BYDFi, I can confidently say that the implementation of EIP-1559 will have a positive impact on the Ethereum network. The introduction of a base fee and the burning of a portion of it will help address the issue of high and unpredictable transaction fees. This will make Ethereum a more attractive platform for users and developers alike. Additionally, the deflationary effect of burning Ethereum will contribute to its scarcity, potentially driving up its value. EIP-1559 is a welcome improvement that will enhance the overall user experience and make Ethereum a more efficient and sustainable blockchain platform.Apr 18, 2022 · 3 years ago
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