I've been asked this several times, so I'll just write it here.
The target Gas usage for each block is half the Gas limit, and the base fee can adjust by at most 12.5% per block.
The base fee is burned rather than paid to the block producer, which prevents block producers from profiting by stuffing blocks with fake transactions to drive up fees.
Under EIP-1559, the base fee paid for each Ethereum transaction is calculated at $ETH , and is burned directly.
Have any of you misunderstood this before?
#ETH
The target Gas usage for each block is half the Gas limit, and the base fee can adjust by at most 12.5% per block.
The base fee is burned rather than paid to the block producer, which prevents block producers from profiting by stuffing blocks with fake transactions to drive up fees.
Under EIP-1559, the base fee paid for each Ethereum transaction is calculated at $ETH , and is burned directly.
Have any of you misunderstood this before?
#ETH