ethereum-burn-stats VS EIPs

EIP-1559 was a surprise to me in a good way. We had spent so much time imagining what it would look like, probably expecting it to be a bit rough around the edges at first. The adoption numbers at the beginning were not high (still lots of type 0/1 transactions) but the basefee was working like a charm. Props to watchtheburn.com and perema's fee feed, which I used to track the early deployment!

Transaction fees are burned, but the transactions fees are so low that the burnt amount is unnoticeable. Burns are in the tens of millions of dollars while issuance is 100x greater in the billions of dollars. Compare this to Ethereum's burn, which currently reduces issuance by nearly 60%.

Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is now offset 35% in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have supply deflation and become a positive-sum investment.

Much love and respect to the individuals/teams that coded and hosted watchtheburn.com 🔥 for the last year. They kept the site up a few days longer than they initially planned for, but have now officially shut down.

WatchTheBurn shows a total of 3,099,476 ETH since eip1559

https://watchtheburn.com/ is closing down?

look at the tips column of this website https://watchtheburn.com/ to see what miners are earning now.

Even more relevant would be the Ethereum Improvement Proposal repo (where people submit proposals to change the spec):

https://github.com/ethereum/EIPs

Or the go-ethereum execution client (the most popular execution client):

https://github.com/ethereum/go-ethereum

It’s early in the life of the xERC20 standard, but progress is quickly being made. The standard has been audited and is already live with a few projects. The EIP to adopt the standard has been created, and implementation has begun. Alchemix recently announced support for the xERC20 standard. And Defi Wonderland has published a suggested implementation on their GitHub. This implementation has an interface for the xERC20 contract with eight core functions that the token issuer must implement. These are functions related to setting the Lockbox contract (setLockbox), issuance limits for bridges (setLimits, mintingMaxLimitOf, burningMaxLimitOf, etc.), and the core mint and burn functions.

Check out EIP-7517: Giving Consent for AI Data Mining on the Blockchain

ERC223 is not widely implemented, and there is some debate in the ERC discussion thread about backward compatibility and trade-offs between implementing changes at the contract interface level versus the user interface.

Ethereum Improvement Proposals (EIPs): These are proposals to change various aspects of Ethereum. They often contain detailed technical discussion and can be a good resource for understanding the finer points of how Ethereum works. EIPs can be found here: https://eips.ethereum.org/

Worth looking at: EIP6968: Contract Secured Revenue on an EVM based L2 https://github.com/ethereum/EIPs/pull/6969/files

Additionally, I have made an EIP that can help standardise and maintain official contract registry of each DApp. This can help identify official contracts of a protocol vs scammers using fraud contracts but presenting like official protocol. https://github.com/ethereum/EIPs/pull/6807