Ethereum Gas Fees Stabilizing, But is This Better for Users? – BeInCrypto

Ethereum Gas Fees Stabilizing, But is This Better for Users? – BeInCrypto

It’s now been three weeks since the Ethereum London hard fork and the deployment of EIP-1559 and it appears that gas fees have become a little more predictable as intended.

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The London upgrade and EIP-1559 was deployed on Aug 5, changing the way transaction fees are calculated while burning a portion of them. The upgrade was never intended to directly reduce fees but make them more predictable.

As explained by Ethereum solutions provider, ConsenSys, “EIP-1559 may lead to some reduction in gas prices if we assume that fee predictability means users will overpay for gas less frequently.”

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Is gas fee stability a good thing?

A chart posted in the Ethereum subreddit by user “frank__costello” shows how the fees have stabilized and become less volatile in swings from low to high in the mid-ranges:

Estimated gas prices: Reddit

Before the upgrade, gas prices ranging between 20 and 100 gwei had greater variance and were more unstable than after London was deployed.

It was pointed out that the upgrade
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