Join Our 500,000+ Community

Get Ember

more posts

July 09, 2021

What is EIP-1559?

EIP-1559 is a proposal to make Ethereum transactions more efficient by setting a base fee and a tip to more evenly incentivize miners in both low and high periods of network congestion. In the proposal, a base fee is the algorithmically determined price you pay for a transaction on Ethereum. Tips are defined as optional fees that you may include to speed up transactions. EIP-1559 could greatly reduce transaction costs and improve Ethereum’s overall user experience.

In this upgrade, the base fee will be burned which in theory will make ETH have deflationary tokenomics. This should greatly increase the price of ETH, as the number of circulating ETH should remain more constant overtime. The upgrade is expected to be launched in July 2021.

Thank you for reading!

Don't forget to come into the app tomorrow to continue learning about crypto! 

Enjoying Ember?

Don't miss out on our latest posts

June 27, 2022

Ember Nuggets #37 | The Fallout of CeFi Crypto Platforms 📉

Happy Monday, everyone! In this edition of Ember Nuggets, we'll be covering the fallout of CeFi crypto platforms, a quick look into Web3 cell phones, and a macro market update.

June 24, 2022

Mining Season 4 Is Right Around the Corner! ⛏️

Thank you to everyone who has participated in the third season of the mining program! The Ember team is proud to announce the start of Mining Season 4!

June 22, 2022

May 2022 Recap Newsletter 📈

Welcome to the May recap! It's been a wild month in the space, but we remain bullish on the long-term outlook.

Download Ember Fund