Flaws in Ethereum’s EIP-1559

Hi RSK Community. Have you seen this interesting article from RSK’s Sergio Demian Lerner, a Cryptocurrency Security Consultant, and Head of Innovation at IOV Labs. Designer of the RSK.

He wrote about the following :

  • Base transaction gas price (Base gas fee)
  • How EIP-1559 is unstable and rational miners may collaborate and easily get rid of it increasing their net revenue 400%.
  • How active users may benefit from collaborating with miners.
  • Comparing EIP-1559 with RSK’s minimum gas price system
  • Partial solution to the EIP-1559 incentive problem

Read here:

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One of the things that is “protecting” Ethereum from miner’s attacking EIP-1559 burn mechanism is spread-originated MEV. They are getting so much additional revenue from it that transaction fees are less important.

Still, I wonder if, close to The Merge, Ethereum miners will behave so well.