The EIP-1559 seems to have injected some hope to the investors of the Ethereum blockchain, on the other hand, for the miners, responsible for the security of the network and the solvency of the same, they have not found it anything interesting.
More than 60% of miners disagree with this implementation. Many will not see the investment in mining equipment amortized and the rewards per block will decrease substantially, which will cause some of them to stop receiving income to justify the effort and performance of their activity.
The thing is, investors, especially modest ones, can't bear the high commissions for confirming transactions. In the good hours of the morning, for example, in the 1INCH Exchange, which is one of the best to get a cheap trade, it charges us almost 40 dollars to exchange our Ethereum for Dai.
This situation is unsustainable. We already know that this is the cause that explains the massive migration of users to the BINANCE Smart Chain.
In the coming months, some questions on this matter will be addressed. We will check the solidity of the BSC, the initiatives of its main projects and if it is truly a worthy winner in this fight.
The price of Ethereum has noticed an increase with the announcement of this news but in July, when the launch of EIP-1559 is supposed to take place, we will really see how Ethereum is. Fewer miners means more security and we know for a fact that getting to match BSC fees is very difficult. We can't forget EOS, Tron, Matic, Polygon, Polkadoy and Neo either. Other blockchains that have been taking away market share for a long time.
Ethereum could be seriously harmed by this proposal. Both Vitalik and its associates must agree on a fairer plan for the miners, which also allows offering more predictable and admissible commissions.
