This was a crazy research project. I hope I was able to explain eip 1559 and how it impacts mining for you. Use my referral link https://crypto.com/app/5wz8sv83bv to sign up for Crypto.com and we both get $25 USD :) Ridge Wallet https://amzn.to/35N6DOT HiveOS https://hiveos.farm?ref=8695 EIP = Ethereum Improvement Proposals Core EIP: requires network upgrade Everything else will allow adoption of anytime Networking Interface ERC Meta EIPs (network upgrades Information EIPs EIP is a core upgrade which requires everyone to implement it EIP 1559 Make transactions fees more predictable Specifying minimum fee, called the BASE FEE, a transaction needs to be included in a block directly in the header Reduce inclusion delays for transactions Doubling the block size and keeping it half empty most of the time Create a positive feedback loop between network usage and ETH supply Increasing/lowering the BASE FEE as a demand for blockspace increases/decreases and burning it FEECAP - Must be larger than the sum of the BASE FEE and TIP TIP is the miner incentive to not mine empty blocks….. Cannot exceed FEECAP so as the BASE FEE rises mining incentive declines but eliminates harm to user by refending the leftover from FEECAP - BASEFEE + TIP Legacy transactions supported by setting FEECAP = GAS PRICE but lose refund on user end Fee Burning Because miners could collude to keep BASE FEE high. Miners now just get tip and reward Fees are bulk of miner reward Burning BASE fee creates a positive feedback loop between network and ETH supply. Basically increasing price by reducing supply. Misconceptions “Gas prices will lower gas prices” No, it just makes it more predictable “Will Make ETH Deflationary” Only true if transactions from the Base Fee are consistently much larger than block rewards. TIP doesn’t contribute to supply reduction. Risks EIP-1559 doubles the potential of a DoS attack 51% attack to drive base fee to 0 thereby increasing tip potential Twitter https://twitter.com/SonOfATech Facebook https://www.facebook.com/Son-Of-A-Tech Instagram https://www.instagram.com/sonofatech/