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EIP 1559

EIP 1559 change in mining fees

Ethereum is going to implement an improvement that could drastically reduce fees.  They are going to change the way the fee structure works.  Fees will be standardized and adjustable but not by more than a small percentage to help prevent network shocks.  In order to speed up transactions you will be able to tip miners which may be able to replace some of the missing mining income.

If this does what I think it should do, it should make Ethereum transactions more affordable for the average person.  Perhaps it will even make Dapp fees within range.  If Ethereum could reduce the fees, there would be much less incentive to use a competing chain.  In addition, they are going to burn the transaction fee rather than pay it out to the miners.  This means that the amount of Ethereum coins in circulation should go down.  This affect should result in a price increase.  Imagine if Bitcoin reduced supply what would happen.

Supply reduction seems to be the thing to do.  Pancake Swap just reduced emissions too.  The more coins start to reduce the amount being created to the point where every week less tokens exist, it should put strong upwards pressure on the price of the coin.

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