Editor's Note: This article comes fromCybtc Blockchain (ID: cybtc_com), reprinted by Odaily with authorization.
, reprinted by Odaily with authorization.
EIP-1559 has recently aroused many people's discussions, and most people still focus on the fact that this proposal can reduce handling fees, but in fact, the essential purpose of EIP-1559 is not to reduce handling fees. After understanding this, I believe that most people should be able to understand why miners oppose EIP-1559.
The first thing we need to understand is how EIP-1559 works. Its main purpose is to divide the user's handling fee into two parts. The first part is the part that is destroyed, and the second part is the miner's tip, which is the reward for the miner. part.
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Secondly, we need to know why the miners' fees are so high now?
And not only that, the DEFI projects on the Ethereum chain do have high gold content, and the currency prices have been recognized by the market, such as crv, aave, compound, uniswap, etc., in fact, all contribute a lot of traffic to the Ethereum blockchain. At this time, As long as there is money to be made, there will naturally be a steady stream of funds coming in, so there will be rising gas prices coming in.
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So if EIP-1559 is implemented, what will it bring to people?
For the liquidity mining participants on DEFI, the impact may not be great, because if the liquidity mining participants who competed with you before continue to play on the Ethereum chain, then you still have to Increase the gas price so that miners can package your transactions first, so as to gain a time advantage. Similarly, other liquid mining participants also have the same idea. Therefore, if DEFI prospers on the Ethereum chain, then the inevitable handling fee will be for users That said, it's still very high.
In addition, for the price of Ethereum, due to the destruction of part of the miner's fee, it is inevitable that the inflation level will be reduced, and it may even cause deflation. Therefore, the Ethereum will have an upward momentum, that is, the currency price will rise. As a result, the gas price may remain unchanged as the currency price rises. In fact, for users, the fiat currency-based transaction fee may still increase. Therefore, for users, EIP-1559 is actually not as good as imagined.
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In the end, who will benefit from EIP-1559?
Naturally, it is the large holders of Ethereum. The large holders here include not only large-scale miners and coin depositors, but also institutional investors, Grayscale, etc., so for these people, it must be beneficial, at least the currency If the price is increased, they will naturally benefit a lot.
The other is that it does not have much impact on large DEFI participants, because compared with their thousands of coins, the handling fee is very low if it is less than 0.1. For ordinary users, unless there are fewer people using the Ethereum chain and the miner's fee will drop, there is almost no other possibility.
