Ethereum's EIP-1559 Deep Dive w/ Hasu

Hasu of Deribit Insights joins Ryan Adams and David Hoffman of Bankless podcast to explore the depths and implications of the looming Ethereum upgrade EIP-1559.

TOPICS COVERED:

0:00​ Intro
4:06​ What's Exciting About EIP-1559
9:20​ Importance of Economic Security
11:35​ What's EIP-1559 All About?
16:31​ Incentives & The Scarcity Engine
20:28​ How EIP-1559 is an Improvement
23:05​ Current Block Management
25:15​ Improving User Experience
28:35​ Present Inefficiencies
32:34​ Future Efficiencies
35:50​ High Network Congestion
42:50​ Smoothing out Traffic
47:08​ Transaction Fees
50:35​ Burning Base Fee
52:26​ Economic Abstraction
56:16​ Problems of Abstraction
58:06​ Security = Issuance
1:03:12​ ETH's Monetary Premium
1:09:48​ Miner Extracted Value (MEV)
1:17:36​ EIP-1559 & Miners
1:20:03​ Miners vs. Stakers
1:26:03​ An EIP-1559, PoS Future
1:30:48​ A Flexible Monetary Policy
1:35:20​ Bitcoin, Security, and Issuance
1:38:11​ Sound Money Culture
1:44:23​ Hasu & Community
1:46:44​ Evangelizing ETH
1:50:26​ Closing & Disclaimers

The episode aired on March 29, 2021.