Nick.eth estimation whether EIP-1559 helped reducing the overpayments

"Has 1559 reduced over-spending on gas fees? I used BigQuery to try and find out. First, we need to define overspend; my working definition is the difference between the gas price the user paid and the lowest nonzero gas price in that block (or 1 GWEI, whichever is higher).

Multiply that by the gas used and sum it per day and you have the total overpayment to miners. Express it as a ratio of total gas and you have a factor – so 2.0 would imply people are paying twice as much as required to get their transactions included.

So, has EIP-1559 helped reduce the overspend factor? You be the judge. See if you can pick where on the chart it was introduced.

​

overpayment ratio

find it particularly interesting to note that it dropped sharply when the fork happened even though most transactions were still legacy transactions – probably because the base fee provides a good price oracle even if you're sending a legacy TX! "

​

src: twitter