Technical Principles | Why is Ethereum’s gas fee split into a base fee and a tip?
EIP-1559 went live with the London upgrade on August 5, 2021, splitting Ethereum transaction fees into two parts: a base fee and a priority fee (tip).
The base fee is burned instead of being paid to the block producer, preventing them from stuffing blocks with useless transactions to drive up fees and make money.
Under EIP-1559, the base fee paid for each Ethereum transaction is $ETH , and it is burned directly. Currently 2438.11.
Size your position according to your risk tolerance, and leave yourself some room.
#ETH
EIP-1559 went live with the London upgrade on August 5, 2021, splitting Ethereum transaction fees into two parts: a base fee and a priority fee (tip).
The base fee is burned instead of being paid to the block producer, preventing them from stuffing blocks with useless transactions to drive up fees and make money.
Under EIP-1559, the base fee paid for each Ethereum transaction is $ETH , and it is burned directly. Currently 2438.11.
Size your position according to your risk tolerance, and leave yourself some room.
#ETH