EIP1559 is going live soon. Here’s what it means for Ethereum.

EIP-1559 is a proposal that will be going live in July. It will burn the gas fees creating deflationary pressure on the coin.

In essence, it will make gas fees more consistent and predictable. This is necessary because it will help to prevent ridiculously high gas prices like the 2000 Gwei that we saw a few months ago.

This is the first step before ETH2 is implemented, hopefully all goes well. It has been a long ride, but I still believe in Ethereum and I think ETH2 is going to be huge.