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Issue 26 – Ethereum’s EIP-1559

ETH 2.0 was a long time coming. The same goes for EIP-1559, and for a good reason.

There are multiple steps involved to make proposals like EIP-1559 a reality, and none can be rushed.

But what exactly is EIP-1559, and what does it mean for Ethereum?

With ETH on the move today and Ethereum’s EIP-1559 scheduled to launch in July, now is a good time to clarify what it is and how ETH might react.

Let’s get it!

What is EIP-1559?

The acronym EIP stands for “Ethereum Improvement Proposal”. When it comes to Ethereum, all proposals must go through a lengthy vetting process by its core developers.

Part of that process includes evaluation, editing, and testing. The entire inclusion process is no easy or quick task.

EIP-1559 aims to tackle Ethereum’s high gas fees, which have been a big problem in the past.

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Justin T Bennett

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About the Author

I'm Justin Bennett, a currency trader turned crypto enthusiast.

My journey started with stocks in 2002. After limited success, I transitioned to currencies in 2007, which later became a full time trading gig.

The journey continued, and in 2020, I committed to learning about cryptocurrencies. It was love at first sight. is the culmination of my love for cryptocurrencies, my passion for financial markets, and desire to learn and teach.

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