Ethhub co-founder: Ethereum EIP-1559 proposal is expected to be implemented in the next 6-12 months
Rhythmed BlockBeats message, Aug. 27, according to NBSP; SetProtocol Ethhub product manager and co-founder Anthony Sassano recently revealed that the much-anticipated Ethereum Improvement Proposal (EIP) 1559 could be launched in the next six to 12 months. Still, he said, 'there are still a lot of uncertainties.'
In a recent interview, Sassano made it clear that he was optimistic about implementing the proposal on Ethereum. He noted that if implemented in his proposed timeframe, it would be necessary to "unite the community and make it [(EIP) 1559] an independent Ethereum network upgrade" rather than bundling the 1550 with other EIPs.
According to Rhythm, EIP-1559 is currently one of the most anticipated improvement proposals in the ethereum community, with Sassano calling it "probably the biggest and most complex change to Ethereum since it was first launched." Ethereum EIP-1559 proposal is a proposed change in the way Ethereum handles Gas pricing, NBSP; The proposal suggests that each block will have a fixed Gas fee, which will be automatically adjusted according to the current blockchain space requirements. There will also be a separate fee (known as the miner's tip) for miners to be incentivised to actually be included in the deal, rather than just to empty the block for a block reward.
Meanwhile, Deribit, a derivatives trader at the derivatives exchange who analysed EIP-1559 by encryption researchers Hasu and Georgios Konstantopoulos, says these changes will have a "positive impact on the long-term safety and stability of Ethereum", given that miners will have a more stable income stream.
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