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EIP-1559, or Ethereum Improvement Proposal 1559, is a significant upgrade to the Ethereum blockchain's transaction fee mechanism. Implemented in August 2021 as part of the London Hard Fork, it introduces a base fee that dynamically adjusts based on network congestion, aiming to make transaction fees more predictable and reduce volatility.
Erasure Coding is a data protection method that breaks data into fragments, encodes them with redundant pieces, and distributes them across different locations to ensure data can be reconstructed even if some fragments are lost or corrupted.
ERC-1155 is a versatile Ethereum token standard that allows for the creation and management of multiple types of tokens within a single smart contract. Unlike its predecessors, ERC-20 and ERC-721, which are designed for fungible and non-fungible tokens respectively, ERC-1155 supports both types, enabling more efficient and flexible token management. This standard is particularly useful for applications like gaming, where a single contract can handle various in-game assets, such as currencies, weapons, and collectibles, all with different properties.
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