Ethereum EIP-1559 status follow-up and community feedback collationsteemCreated with Sketch.

in CryptoDog5 years ago

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EIP official github:https://github.com/ethereum/EIPs/blob/master/EIPS/eip-1559.md
EIP-1559 official development status update: https://hackmd.io/@timbeiko/1559-updates
EIP-1559 Developer Conference:https://github.com/ethereum/pm/tree/master/Fee%20Market%20Meetings

1. EIP-1559 Progress

Published EIP-1559 PR: https://github.com/ethereum/go-ethereum/pull/21971
The testnet is running slowly but steadily
Published some papers and conferences

2. Estimated launch time

Mainnet readiness checklist: https://github.com/ethereum/pm/blob/master/Fee%20Market%20Meetings/mainnet-readiness.md

It can be seen from the mainnet readiness checklist that there are still many unfinished tasks, and the mainnet launch time is unknown.

3. Community feedback on EIP-1559

EIP1559 Community Feedback Channel: https://forms.gle/bsdgBtG8g7KYnQL48

EIP-1559 community feedback report: https://medium.com/ethereum-cat-herders/eip-1559-community-outreach-report-aa18be0666b5

3.1 Summary of community feedback report

Total 25 respondents, 9 are miners, 16 are community project parties. The project parties mainly include: Gitcoin, Argent, Infura, Kyber Network, ethers.js, POAP, TrueBlocks, Bitfly (etherchain.org/beaconcha.in) , Nanopool and 0xBitcoin

Among them, 42% (10) generally have a positive attitude towards EIP-1559, 42% (10) have an overall negative impression of EIP, and 17% (4) are neutral or do not have sufficient insights

Miners are the most negative, with 89% (8/9) of the answers being negative. If miners are excluded, 60% (9/16) of the respondents have a positive attitude towards EIP-1559.

3.2 Advantages and risks of the main feedback

1.Respondents mainly believe that EIP-1559 benefits

  • Predictability of natural gas prices (7 mentions): People are generally satisfied that EIP-1559 can reliably set natural gas prices.
  • ETH burns money (5 mentions): I think that burning the basic expenses has great benefits, such as curbing inflation.

2.The respondents mainly believe that the risks of EIP-1559

  • Negative impact on miners (10 mentions): Almost all miners who responded to the survey mentioned that EIP-1559 would have a negative impact on it. If it passes, they will consider mining on another chain other than Ethereum. Some miners suggested that EIP-1559 would be better as part of Ethereum 2.0.
  • I think there are some difficulties in analyzing EIP-1559 (7 mentions):
    (1) The specification of EIP-1559 is not clear, and it is difficult for users and developers to make judgments;
    (2) EIP-1559 involves many parts of Ethereum, and its impact on the future is difficult to predict
    (3) Only when all Ether coins exist on the mainnet, can it be possible to correctly test the effect of EIP-1559

3.3 Community Feedback Report Conclusion

  • More than 60% of the respondents support the proposal and hope that EIP-1559 will be deployed on the mainnet in 2021, but the miners are clearly opposed to the proposal.

  • More explanation of EIP-1559 is needed, especially to explain the risk points raised by the community.

  • Appropriate tools, clear communication, good documentation and public testnet can help the project party increase support for EIP-1559

  • Wallets and exchanges represent a small number of responses from participants

  • Implementation issues (6 mentions):
    (1) The respondents are mainly worried that the implementation of the client and peripheral tools will encounter difficulties, and some tool developers do not actively participate in the support of EIP1559

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