Ethereum community backs EIP-1559

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Updated September 21, 2022 | Published February 16, 2021

2 mins read

Etheroll is supporting the implementation of EIP-1559 which will focus on improving the quality of the Ethereum network and lead to better transactions for all participants.

The company will participate in a community call scheduled for February 26 which will talk about the benefits of implementing EIP-1559 and organized by SupportEIP1559.org.

SupportEIP1559.org is a website aimed at bringing the Ethereum community together to find a solution to the continuous problem with gas prices and slow transactions on the Ethereum network.

The EIP-1599 is a transacting pricing mechanism whose sole purpose is to provide consumers and members of the Ethereum community with a much more predictable gas price, which has long been the source of discontent within the community.

So, what exact benefits does EIP-1599 pose? As the official page explains, consumers will get predictable fees, although they may still be a little pricey, depending on current volume and interest. However, no sudden volatility will occur.

As a result of more predictable fees, on-chain gas oracles will be possible and as a precaution, miners won't receive the base fee lest they are tempted to manipulate the fee and stilt it at the expense of the community.

Ethereum has long been experiencing deterioration across the board. With fees spiking 20% earlier in February, solutions are still badly needed. Some companies have even tried to analyze when the best times of the day to use Ethereum are.

Meanwhile, consumers continue to engage with various websites that extend Ethereum gaming options. Such websites include but aren't limited to FortuneJack, 1xBIt, and Bitcasino.io.

Looking for your next crypto casino? Check out: Bitcasino, Gamb.co or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.
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