ethereum-burn-stats VS consensus-specs

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.

I think its 1 million: https://github.com/ethereum/consensus-specs/issues/2137

how "radically decentralized" the development of the Ethereum core is. In the past half a decade only 133 devs have contributed to Ethereum source code. 2 devs have written 25% of the code. The first 10 developers have written 70% of the Ethereum code. Consensus specifications the ones that all the clients implement. Half are Consensys employees https://github.com/ethereum/consensus-specs

I think this will be defined here: https://github.com/ethereum/consensus-specs/blob/dev/specs/deneb/fork-choice.md

Clients dependent on Consensys core and ETH management repo. A client is just the implementation directed by Consensys written in a different language. Fact is about 10 developers are the only reason those clients will update with staking. https://github.com/ethereum/consensus-specs

Exits are processed at 7 per epoch (currently). There is no queue for withdrawals. See https://github.com/ethereum/consensus-specs/pull/3068

https://github.com/ethereum/consensus-specs/blob/dev/specs/p...

For that, we have to take the vanilla deposit contract from the consensus specs: deposit_contract.sol, get the Solidity compiler version 0.6.11, compile the binary of the runtime part, and create an empty deposit tree.

The PoS consensus specification