EIP-1599 is an Ethereum Improvement Proposal (EIP) that aims to improve network transaction efficiency through the use of a hybrid system of base fees and tips. A “base fee” is defined in the proposal as an algorithmically determined price that all Ethereum users would pay to complete transactions. Tips are optional fees that users can include to expedite their transactions. EIP-1559 was launched in August 2021 with the goal of lowering transaction costs and improving the overall Ethereum user experience (UX).
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