Fee Market Coming to Ethereum This Year Says Danny Ryan

danny ryan dec 2020 768x404

The fee market Ethereum Improvement Proposal (EIP) 1559 is expected to launch this year according to Danny Ryan, an eth developer. “R&D on this item has picked up steam in the past 12 months, and we optimistically will see 1559 fee mechanics on mainnet in 2021,” Ryan said. Just recently there were suggestions this EIP is pretty much finished code wise, but it appears to have attracted some resistance from miners. Ryan however says this improvement proposal is very beneficial for the ethereum network, stating: “1559 style fee mechanics will be native to eth2’s sharded data layer. This will allow for a better UX to Ethereum’s data consumers when attempting to chuck data into the Ethereum network, most tangibly aiding rollups in confidently checking their block data into the beacon chain.” The fee market proposal makes network fees more predictable by setting a base fee that targets 50% network usage,…

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