Editor's Note: This article comes from
Hot Wheels Community (ID: FHBT18)Hot Wheels Community (ID: FHBT18)https://supporteip1559.org/
https://stopeip1559.org/
, Author: Pepe, reproduced by Odaily with authorization.Hello everyone, I'm Pepe, the above is really a joke, don't take it seriously, there is a recent incident on the ethereum that miners have a lot of controversy over a proposal called EIP1559 (EIP means proposal), supporters and opponents Also set up two .org websites to express their position:
There is also a small episode here. The support party bought the domain name stopeip1559.com by the way, so that if you enter the .com domain name by mistake, you will still jump to the supporter’s webpage.
It can be seen that there are still some differences and deadlocks in the community. I don’t think it’s a big problem for us currency friends, so I didn’t mention this when I wrote about ether yesterday, but I also saw some friends asking if there will be a fork , What impact will it have on the price of eth, so today we will integrate the things about 1559, and let’s briefly talk about it.
This proposal is to improve the gas fee model. The most important change is the bidding model. The current model is relatively simple. All transactions are submitted to a place called mempool in real time, and the miners choose to package them according to the transaction fee. Transactions in the next block:The problem here is that bidding for handling fees is like an auction, but you don’t know the value of the item you’re bidding on, and you don’t know what the opponent’s expected price is, so what happens is, Maybe it only needs a gas fee of $1, but everyone wants to confirm the transaction as soon as possible and blindly increases the price. It may not be possible to complete the transaction with $5. Now, once the wallet is slow, it will provide you with an acceleration option. Increase the cost of gas fees.Therefore, when the network demand increases, the gas fee will have a rapidly increasing peak value as shown in the figure above. With the development of defi, there is more immediate demand for transaction collection and liquidation, and the gas fee problem has also become a pain point on Ethereum.
The 1559 proposal hopes to optimize the model to smooth out the fluctuation of gas prices, and properly play a role in expanding capacity and improving user experience. It divides the gas fee into two parts, one is the basic fee, and it will be based on the network status. For example, the usage level of each block capacity is used to set the fee, which can be directly calculated by the wallet and must be paid for each transaction, so we also understand that it is a fixed fee, and at the same time the fee received eth is directly destroyed, which means that there is a possibility of deflation of eth chips in the future, which is why many investors will regard 1559 as a positive.The other part is the miner's fee, which is extra, that is, the user does not have to pay, but when the gas fee reaches the upper limit, that is, the network is relatively congested, the miners will sort and pack according to the level of the tip.Its biggest advantage is that it can improve the user experience of the network. When the network is not congested, it is basically a unified pricing model. The wallet can give an accurate benchmark fee, and it also appropriately reduces the problem of users blindly paying too much and causing network congestion. Situation happens.Moreover, a large part of the transaction fee is destroyed, because the ether itself is an inflationary model, which means that the issuance mechanism has become a dynamic adjustment. Some supporters believe that this will be more conducive to the long-term development of the network.Another point is that it can reduce the motivation of miners to manipulate the price of handling fees in order to get more income.
Of course, please note here that 1559 only moderately changes the fee model, which may play a role in expanding capacity, but it cannot fundamentally solve the problem of expensive fees and Ethernet performance. If the network is congested, the fee will still increase. Expensive, but when the relative demand decreases, you can only use the basic fee without bidding, and relatively speaking, the processing will be faster, because if the proposal is passed, the gas capacity will also increase, and the transaction volume contained in each block will increase.In addition, Ethernet performance still depends on the layer 2 we talked about yesterday or the long-term eth2.0.Most of the opponents here should be miners. One of the biggest reasons for opposition is also the interest appeal. An obvious change brought about by 1559 is that the income of miners will drop significantly, and they can only get block rewards and may or may not There is no tip, and during the peak period from last year to this year, the overall monthly income of Ethereum miners was hundreds of millions of dollars.And this is not just a problem of short-term wage decline. It may be difficult for miners to benefit from the success of Ethereum in the future. After all, most of the transaction fees are consumed.In addition to the issue of income, there are also some controversial points, such as whether the 1559 model can really improve the user experience of handling fees. If there is a vicious competition in tipping miners in the case of congestion, then in this case, it is equivalent to user experience. Not only must the miner's fee not be too low, but the basic fee must also be low. The basic fee here is like a tax charged on the Ethernet network.
There is also the destruction of deflation, which is a hype point from a speculative point of view, but will it be a good thing for the long-term network? Of course, there may not be much data to prove the above two points. Some people say that filcoin also uses the 1559 model. However, there is still a big ecological gap between the two, which can only be seen after the actual situation after landing.
For more details about supporting the opponents, you can see the following linked article in Lianwen:Generally speaking, I think both parties have some reason. Even miners, it is understandable to consider interests, and what they mentioned cannot be regarded as "evil".The current standing team, the defi ecology is basically based on EIP1559:About 60% of the miners’ computing power are negative votes. The left side of the picture below is the negative vote, and the right side is the mining pool that supports it:However, the mining pool can only express its attitude towards this at present. There is no such thing as whether the proposal on the ether is passed or not, and regardless of our support or opposition, 1559 is expected to go online around July this year and will be merged into an upgraded hard fork. update in .And the kind of fork that the market thinks about splitting out new coins, looking at the distribution of computing power, they may fork a chain that does not contain eip1559, or build a new chain by themselves (Ethereum also has a difficulty bomb, a simple fork If the currency does not follow the main network update, it may not be possible to dig out new coins later due to the increase in difficulty).As for the price, for investors, there is actually no need to think about it too complicated. I may have been a bit nagging above, mainly because I want many friends to understand what happened here.epilogue
From the perspective of investment and speculation, just follow the market sentiment. If there is no fork, everyone will be happy. Stirring deflation may also be a good thing. Fork, the market understands it as a candy airdrop, which is also good.
