EIP-1559 upgrade has been live for a week now. August 5th, Thursday, EIP-1559, along with four more EIPs, i.e., EIP-3198, EIP-3529, EIP-3541, and EIP-3554 went live with the Ethereum London upgrade. While the upgrade benefitted traders, providing fasters transactions. It threatened miners’ income by burning the majority of transaction fees and removing its entirety from circulation.
ETH prices hike, miners’ income stabilizes
With the EIP-1559 upgrade, the blockchain saw numerous changes that in turn stabilized miner income, contrary to the general belief that it might lead to a decline. According to Anand Gomes, the co-founder of Paradigm, Ethereum London hard fork upgrade led to a surge in ETH price, along with influencing institutional investors onto the Ethereum blockchain. While miners were strongly against the upgrade, the stabilization in mining fees seems to have also helped stabilized their income.
Source: Coin Metrics
The burning of additional miner’s fees did ma
Źródło: https://coingape.com/heres-why-eip-1559-may-not-downgrade-miners-income/
