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EIP 1559 Upgrade can lead to a long-term survival

 

EIP 1559 was implemented on the mainnet 60 days ago, however the upgrade is still in its early stages. The upgrade's base fee burn, as well as the upgrade's impact on the coin's long-term survival, are the topic of their inquiry. Bitcoin miners will be forced to rely on transaction fees to preserve their business model as block rewards become increasingly small. Transaction fees formerly collected by bitcoin miners were mostly abolished by EIP 1559. Bitcoin is viewed as a store of wealth rather than a currency, but the "digital gold" tale that accompanies it has led to a decrease in network activity. There will be a major impact on Ether's supply in the future due to the amount of activity on the network and demand for blockspace.

Given that bitcoin's limited quantity is a major selling point for investors, EIP 1559's claim that it "solved" the issue of paying miners in perpetuity may be wrong.

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