Study Notes | EIP-1559 Fee Mechanism
① Before EIP-1559, Ethereum used a first-price auction: users each set a Gas price, and all bids went to the miners.
② When sending a transaction, set a maximum fee and a maximum priority fee. The actual charge is the “base fee + priority fee,” capped at the maximum fee; any excess is not charged.
③ For transactions that aren’t time-sensitive, you can set a lower priority fee and raise it slightly for urgent transactions. Don’t set it too high without thinking.
$ETH 2325.83（-1.54%）
#ETH
① Before EIP-1559, Ethereum used a first-price auction: users each set a Gas price, and all bids went to the miners.
② When sending a transaction, set a maximum fee and a maximum priority fee. The actual charge is the “base fee + priority fee,” capped at the maximum fee; any excess is not charged.
③ For transactions that aren’t time-sensitive, you can set a lower priority fee and raise it slightly for urgent transactions. Don’t set it too high without thinking.
$ETH 2325.83（-1.54%）
#ETH
