Ethereum Fees and Vitaliks New Proposal
Welcome to this episode of Ivan on Tech. In this episode Ivan is chilling by a lake and talks about the Ethereum fee market, bitcoin fee market and in general cryptocurrency fee markets. The fee's and transactions are picked by the miners. The miners will choose the blocks with the highest transaction bids to mine. For example if 4 people bid $1 and 1 person bids $10 then the miners will choose to mine the most profitable for them. This creates a bad situation and transaction costs can get out of hand for no real reason.
Vitalik has thought about this issue and a new proposal aims to help facilitate transaction fees and make them more fair and equal. You can learn more about this topic and see some ducks in this episode of Ivan on Tech.