High Gas Expenses in Ethereum Won’t Be Solved by EIP-1559
Transaction fees in Ethereum remain very expensive, and the update expected by the entire crypto world won’t solve this problem. The more Ethereum’s price grows, the more expensive the gas becomes. Different types of transactions require different amounts of gas.
Coin Metrics analysts are sure that it’s not DeFi’s fault that Ethereum transactions are so costly. The increase in their amount causes such an effect. They try to solve the problem by auctioning the transaction, so those who can pay more for gas have a priority of miners attention and faster transactions as a result.
The analysts suppose that miners should be informed about the types of transactions to include in the blocks. The EIP-1559 update will make the transactions more predictable but won’t make them cheaper. Bigger solutions are required to solve the problem.