Quote from: booze on March 07, 2021, 08:46:37 AM

I still dont understand how EIP1559 will reduce gas fees, isnt it just burning gas fees? Instead of fees going to miners they are burnt instead, rather than actually being REDUCED for the user sending the transaction. my understanding EIP 1559 is more about making gas fees being more transparent up front and removing guess work?

Layer 2 solutions will lower fees. EIP1559 is meant to stabilize fees so they are predictable and to burn the fees so the supply of ETH is reduced.

Layer 2 combined with EIP1559 will make mining Ethereum a lot less profitable.