How Does EIP-1559 Relate to the Concept of "Ultrasound Money" for Ethereum? ⎊ Path

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.

What Is the Purpose of Burning the Base Fee under EIP-1559?

How Does EIP-1559 Relate to the Ethereum Fee Market?

How Does the “Burning” of the Base Fee in EIP-1559 Create Deflationary Pressure on ETH?

What Is EIP-1559 and How Did It Change the Gas Fee Mechanism?

How Does the EIP-1559 Upgrade Affect Ethereum’s Gas Fee Structure?

What Is the Purpose of ‘Burning’ a Portion of the Gas Fee (EIP-1559)?

How Does the Burning of the ‘Base Fee’ under EIP-1559 Affect the Supply of Ether?

How Does EIP-1559 Change the Way Ethereum Transaction Fees Are Calculated?