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rust-ethereum / evm

Pure Rust implementation of Ethereum Virtual Machine
Apache License 2.0
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feat: burn base fee when eip-1559 is enabled (>= london fork) #289

Closed RomarQ closed 3 months ago

RomarQ commented 3 months ago

Also adds a new configuration property eip_1159_enabled which when set to true, burns the base fee, instead of sending it to the coinbase address.

An important aspect of this fee system is that miners only get to keep the priority fee. The base fee is always burned (i.e. it is destroyed by the protocol). This ensures that only ETH can ever be used to pay for transactions on Ethereum, cementing the economic value of ETH within the Ethereum platform and reducing risks associated with miner extractable value (MEV). Additionally, this burn counterbalances Ethereum inflation while still giving the block reward and priority fee to miners. Finally, ensuring the miner of a block does not receive the base fee is important because it removes miner incentive to manipulate the fee in order to extract more fees from users.