Vitalik Buterin pfp
Vitalik Buterin
@vitalik.eth
I continue to be impressed every week by just how much EIP-1559 has improved ethereum's transaction sending UX.
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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
Could someone explain EIP-1559?
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ncitron.eth pfp
ncitron.eth
@ncitron.eth
blocks full -> gas price up blocks not full -> gas price down under normal conditions an equilibrium price is maintained
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ea pfp
ea
@ea
Paying market rate, if you're willing, is much easier to do without overpaying. Paying market rate gets your transaction included within few blocks (unless there's a sudden flood of transactions)
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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
can you say more?
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ea pfp
ea
@ea
Pre 1559 to get transaction included quickly, was safest to specify a fee like 10% or more of current market rate. Whatever you specified you would be charged in full, even if market rate only moved a little. 1559 will only charge you a "priority fee" in addition to market price. You can use 1 or 0.1gwei, or even try 0
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