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EIP-1559 (base fee + tip)
URI:
https://gptkb.org/entity/EIP-1559_(base_fee_+_tip)
GPTKB entity
Statements (31)
Predicate
Object
gptkbp:instanceOf
Ethereum protocol upgrade
gptkbp:activatedBy
2021-08-05
gptkbp:affects
Ethereum transaction fee structure
gptkbp:baseFee
protocol-determined minimum fee per gas
gptkbp:baseFeeAdjusts
dynamically per block
gptkbp:baseFeeBurned
true
gptkbp:category
gptkb:cryptocurrency
cryptocurrency fee mechanism
gptkbp:documentation
https://eips.ethereum.org/EIPS/eip-1559
gptkbp:effect
ETH supply reduction via burning
gptkbp:feature
base fee mechanism
tip mechanism
https://www.w3.org/2000/01/rdf-schema#label
EIP-1559 (base fee + tip)
gptkbp:introducedIn
gptkb:Ethereum_London_Hard_Fork
gptkbp:network
gptkb:Ethereum_testnets
gptkb:Ethereum_mainnet
gptkbp:partOf
gptkb:Ethereum_Improvement_Proposal_1559
gptkbp:proposedBy
gptkb:Abdelhamid_Bakhta
gptkb:Eric_Conner
gptkb:Ian_Norden
gptkb:Matthew_Slipper
gptkb:Rick_Dudley
gptkb:Vitalik_Buterin
gptkbp:purpose
burn a portion of transaction fees
make transaction fees more predictable
improve transaction fee market
gptkbp:replacedBy
legacy gas auction model
gptkbp:tip
optional fee paid to miners
gptkbp:tipReceivedBy
block producer
gptkbp:bfsParent
gptkb:Ethereum_mainnet
gptkbp:bfsLayer
5