How Does EIP-1559 Relate to the Concept of “Ultrasound Money” for Ethereum?
The term "ultrasound money" suggests that Ethereum's native asset, Ether (ETH), is superior to "sound money" (like Bitcoin) due to its potential for net deflation. EIP-1559 contributes to this by burning the base fee.
If the amount of ETH burned through transaction fees exceeds the amount of new ETH issued as validator rewards, the total supply of ETH decreases, supporting the "ultrasound money" narrative.