Eip-1559 vs miners

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The commissions that Ethereum currently has make it unprofitable to carry out transactions on its Blockchain. The only ones who have gained with these high rates in the payments of the GAS are the miners. Miners can only confirm 1,200 transactions per minute, but currently up to 10,000 transactions are generated which need to be confirmed. This means that there is a limited number of transactions that, if they pay high sums of GAS, are the ones that will have priority, while the others will be on hold.

For some time now, possible solutions to this problem have been sought and thus achieve a slight reduction in the commissions that miners charge for confirming Ethereum transactions.

The option being discussed is EIP-1559. Its main objective is to try to assign a fixed price to the GAS that must be paid for a transaction carried out on the Ethereum block.

This sounds great, but the problem is to make a consensus exist in the miners so that everyone is willing to work that way. Unfortunately, not everyone is willing to cut their earnings.

To be able to make exchanges in the decentralized Uniswap Exchange, the amount that a user must pay the GAS, can be higher than the amount that needs to be converted to another crypto asset.

If this is not fixed soon, the option that many projects may start to consider would be to work in the BINANCE Smart Chain ecosystem. Since the commissions are much lower than those of Ethereum, in its Pankeswap decentralized exchange.

 

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