Unchained

Ethereum's EIP-1559 Will Solve Some Problems But Big Ones Will Remain - Ep.250

06.29.2021 - By Laura ShinPlay

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Taylor Monahan, CEO of MyCrypto, and Tim Beiko, Ethereum Foundation core-dev facilitator, discuss the upcoming upgrade to the Ethereum network, EIP 1559. Show highlights:

why Tim believes EIP 1559 is necessary

what narrative is driving EIP 1559

what problems the network upgrade will solve

how Ethereum transactions/fees work

whether gas prices are correlated with ETH/USD

the 3 main protocol changes that EIP 1559 proposes

why Taylor, as the CEO of a wallet provider, is wary of EIP 1559

how EIP 1559 will affect Ethereum’s block size

what changes wallet providers are considering due to EIP 1559

whether ‘Black Swan’ events will be more or less likely after the network upgrade

how EIP 1559 will affect miners

whether Tim or Taylor believes that miners could fork Ethereum to stop EIP 1559

how EIP 1559 will change the state of miner extractable value (MEV)

how Taylor and Tim feel about the Ethereum as sound money narrative in light of EIP 1559

when EIP 1559 will go live

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Episode Links

 

Taylor Monahan

Twitter: https://twitter.com/tayvano_

MyCrypto: https://mycrypto.com/ 

 

Tim Beiko

Twitter: https://twitter.com/TimBeiko

Ethereum Foundation: https://ethereum.org/en/foundation/ 

 

EIP 1559

Resources: https://hackmd.io/@timbeiko/1559-resources

Taylor Monahan tweets

https://twitter.com/tayvano_/status/1397725861575421953

https://twitter.com/tayvano_/status/1408000351916093441

https://twitter.com/tayvano_/status/1407853518493413379

Actual proposal: https://github.com/ethereum/EIPs/blob/master/EIPS/eip-1559.md 

Research: http://timroughgarden.org/papers/eip1559.pdf 

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