‘EIP-1559’ Ethereum 34x More Power Than ‘SegWit’ Bitcoin!

thecekodok

 Bitcoin (BTC) and Ethereum (ETH) fans have certainly been following closely the development of the blockchain since the launch of Segwit and EIP-1559.


Developer Yearn Finance @banteg through his tweet today made a comparison of the network improvements introduced by the two networks.


According to him, the growth of EIP-1599 through the London hard fork that aired over the past 3 weeks recorded 34x faster adoption than SegWit which was launched four years ago, 25 August 2017.


If EIP-1599 saw 55% adoption in such a short time, SegWit took a long time to achieve 80% adoption in BTC transactions.



This means, to reach the same level as EIP-1599, SegWit requires at least two years!


For the record, SegWit plays a role in the integration of a second-layer scalable solution, Lightning Network. It increases the size of the block, thus encouraging more transactions to take place on the blockchain.


While EIP-1559 is more focused on the stability and expectations of gas prices, rather than reducing the cost of gas alone in large amounts.


Since its launch, a total of 106,000 ETHs (about $ 330 million) have reportedly been burned, based on Ether’s current price, $ 3,120.

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