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58 - EIP-1559 | Hasu

Bankless

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Funding Economic Security in Blockchain

This chapter offers an in-depth analysis of funding methods for economic security in blockchain networks, comparing issuance and transaction fees to different grades of fuel. It significantly focuses on Ethereum's transaction fee dynamics, especially the implications of EIP-1559 and miner extractable value (MEV), and examines the transition from a proof of work to a proof of stake model. The conversation highlights the potential impacts on miners' revenues, the sustainability of the Ethereum network, and compares Ethereum's evolving monetary policy with Bitcoin’s fixed cap.

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