Vitalik: studies have shown that EIP 1559 greatly reduces the average transaction waiting time

Published on 1/17/2022   578 views   0 Comments  

Babbitt news, on January 18, vitalik buterin, founder of Ethereum, forwarded on twitter the paper "empirical analysis of eip-1559: transaction cost, waiting time and consensus security" jointly studied by Peking University and Duke University, and said that this paper specifically mentioned that EIP 1559 greatly reduced the confirmation of the average waiting time of transactions.

It is understood that the research of this paper proves that eip-1559 greatly improves the user experience by simplifying the cost estimation, alleviating the price difference of paid gas in the block and reducing the user waiting time. However, eip-1559 has little impact on gas fee fluctuation and general security. In addition, the study also found that when Ethereum's price fluctuates greatly, the waiting time is significantly longer. The study also verified that large-scale blocks will increase the existence of brother blocks.

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