🎙 EIP-1559 | Hasu
How EIP-1559 Poses to Bring Economic Security to Ethereum
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Hasu is a pioneer and thought leader in the world of cryptoeconomic research. This week, he joins the Bankless Podcast for the second time. Our last episode with him, Defi vs. Banks, can be found here.
He is a rare voice in crypto, unafraid to speak his mind and break ranks with both Ethereans and Bitcoiners. His takes were often varied and elusive… until the EIP-1559 proposal. Dive in to learn what changed his mind.
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🎙 Bankless Episode #58: EIP-1559
Guest: Hasu
March 29, 2021
Hasu is a renowned pseudonymous researcher in the cryptoeconomic space, and we have been long impressed by his clear, sober ideas. In his second appearance on the pod, we dive deeply into EIP-1559, covering its technicals but also the social & cultural implications of the proposal.
When it comes to the field of cryptoeconomics, Hasu is most compelled by research on establishing and maintening economic security. EIP-1559 embodies these concepts through its transaction fee dynamics, regulation of gas prices, and novel mechanisms for users to buy transactions on the network.
Properly incentivizing validators to come to consensus is necessary for a cryptoeconomically secure platform. EIP-1559 aims to accomplish this by regulating the consumption of resources on the network, fixing the price of gas on a block while allowing its quantity to float.
The changes under EIP-1559 allow Ethereum to incentivize its deflationary mechanism, mitigate Miner Extracted Value (MEV), and improve the user experience for individuals transacting on the Ethereum network. Tune in as Hasu's refreshing and credible perspective helps to conceptualize this multi-faceted cryptoeconomic system.
Resources:
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