Let's talk about the EIP-1559 fee mechanism:
Before EIP-1559, Ethereum used a first-price auction: users set their own gas prices, and all bids went to miners.
The base fee is burned instead of being paid to the block producer, preventing producers from stuffing blocks with fake transactions to drive up fees and make money.
$ETH 2512.72（-1.61%）
#ETH
Before EIP-1559, Ethereum used a first-price auction: users set their own gas prices, and all bids went to miners.
The base fee is burned instead of being paid to the block producer, preventing producers from stuffing blocks with fake transactions to drive up fees and make money.
$ETH 2512.72（-1.61%）
#ETH