ethereum-burn-stats VS pm

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.

Get involved in the next public testnet. Holešky testnet (Goerli successor) first launch coordination call June 15, targeting September genesis https://github.com/ethereum/pm/issues/803

Attend some All Core Dev meetings if you have doubts https://github.com/ethereum/pm

EIP4844 readiness checklist: https://github.com/ethereum/pm/blob/master/Breakout-Room/4844-readiness-checklist.md

Dencun upgrade with EIP4844 is likely later this year, which will bring lower cost Layer 2 transactions. Follow the readiness of EIP4844: https://github.com/ethereum/pm/blob/master/Breakout-Room/4844-readiness-checklist.md Prague + E starname upgrade is probably 2024, possibly focused on EOF, then followed by a Verkle tree focused upgrade, but none of this has been decided.

There's an EIP 4844 readiness checklist.

The live date for the Shanghai upgrade is likely to be April 12, occurring at epoch number 620,9536. This was announced during the All Core Developers Execution Layer #157 call on 16 March 2023.

On December 8, 2022, the Ethereum core team held an All Core Developers (ACD) meeting. The Ethereum team agreed to target March 2023 as the release date for Shanghai’s mainnet launch. However, this is a tentative date based on the assumption that the Zhejiang, Sepolia, and Goerli testnets are successful.

Shanghai is the next major upgrade for the Ethereum network, following the Merge in September 2022. Key highlights of what to expect include: