{"id":27806,"date":"2020-08-27T12:55:32","date_gmt":"2020-08-27T09:55:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27806"},"modified":"2025-08-26T23:14:13","modified_gmt":"2025-08-26T20:14:13","slug":"filecoin-reports-preliminary-results-from-testing-ethereums-new-fee-mechanism","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/filecoin-reports-preliminary-results-from-testing-ethereums-new-fee-mechanism\/","title":{"rendered":"Filecoin reports preliminary results from testing Ethereum\u2019s new fee mechanism"},"content":{"rendered":"<p>An EIP-1559 proposal aimed at reducing Ethereum network fees is undergoing testing on the Filecoin network. Project developer Jeromi Johnson said.<!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">In case you missed it: recent writing on fee market reform (EIP 1559)<\/p>\n<p>* My FAQ: <a href=\\\"https:\/\/t.co\/E9JvIUkazS\\\">https:\/\/t.co\/E9JvIUkazS<\/a><br \/>\n* <a href=\\\"https:\/\/twitter.com\/MicahZoltu?ref_src=twsrc%5Etfw\\\">@MicahZoltu<\/a> on safety: <a href=\\\"https:\/\/t.co\/uNOEqSDNxV\\\">https:\/\/t.co\/uNOEqSDNxV<\/a><br \/>\n* <a href=\\\"https:\/\/twitter.com\/bluepintail?ref_src=twsrc%5Etfw\\\">@bluepintail<\/a> on fairness: <a href=\\\"https:\/\/t.co\/bJYJSR1b0o\\\">https:\/\/t.co\/bJYJSR1b0o<\/a><\/p>\n<p>Oh and it seems to be working great on filecoin:<a href=\\\"https:\/\/t.co\/sgWLPF1VXg\\\">https:\/\/t.co\/sgWLPF1VXg<\/a><\/p>\n<p>\u2014 vitalik.eth (@VitalikButerin) <a href=\\\"https:\/\/twitter.com\/VitalikButerin\/status\/1298771414141423616?ref_src=twsrc%5Etfw\\\">August 26, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The update was first proposed in April 2019. In the face of a sharp rise in fees, Ethereum co-founder Vitalik Buterin said that EIP 1559 could solve the problem.<\/p>\n<p>According to Johnson, the preliminary test results are positive, though developers have faced a number of difficulties in building the new fee architecture.<\/p>\n<p>Currently, miners process transactions on an auction basis: the more a user is willing to pay, the faster their transfer will be processed.<\/p>\n<p>With the implementation of EIP 1559, fees will automatically fall when network utilization falls below 50%. If this metric exceeds the threshold, transaction fees will rise.<\/p>\n<p>Since mid-August, fees in the Ethereum network have begun to decline, according to <a href=\\\"https:\/\/bitinfocharts.com\/ru\/comparison\/ethereum-median_transaction_fee.html#3m\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">BitInfoCharts<\/a>. Over two weeks the median figure fell from $3.35 to $1.16.<\/p>\n<div id=\\\"attachment_108525\\\" style=\\\"width: 830px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-108525\\\" class=\\\"wp-image-108525 size-full\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-267.png\\\" alt=\\\"Filecoin reports preliminary results from testing Ethereum's new fee calculation mechanism\\\" width=\\\"820\\\" height=\\\"155\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-267.png 820w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-267-300x57.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-267-768x145.png 768w\\\" sizes=\\\"auto, (max-width: 820px) 100vw, 820px\\\" \/><\/p>\n<p id=\\\"caption-attachment-108525\\\" class=\\\"wp-caption-text\\\">Source: BitInfoCharts.<\/p>\n<\/div>\n<p>On August 13, the average ETH fee at the moment <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-network-fees-hit-a-new-all-time-high-above-7\">surpassed<\/a> $7, an all-time high.<\/p>\n<p>Subscribe to ForkLog&#8217;s <a href=\\\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An EIP-1559 proposal aimed at reducing Ethereum network fees is being tested on the Filecoin network, according to project developer Jeromi Johnson.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1178,46,1488,1244],"class_list":["post-27806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-fees","tag-ethereum","tag-filecoin-fil","tag-weekly-summary"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=27806"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27806\/revisions"}],"predecessor-version":[{"id":27807,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27806\/revisions\/27807"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}