08-03-2021, 08:51 AM
Ethereum's London Hard Fork is now 2 days away
<!-- SC_OFF --><div class="md"><p>EIP-1559 on Ethereum's network was a proposal to make Ethereum transactions more efficient.</p> <p>It aims to maintain the network and keep it more closer to a usage rate of around 50%. If the network usage falls below this, the fees (base fee) will decrease as well. It will also still allow you to increase the fee (called a tip fee) to decrease the transaction time. The base fee is set algorithmically.</p> <p>Wallet providers will no longer have to set their own gas fees as they will now be set automatically.</p> <p>The proposal will be implemented in 2 days, which is also referred to as the London Hard Fork</p> <p>This feature has been long waited for this year. I will not make any price predictions but it's a very, very large step towards the overall Ethereum 2.0 upgrade slated for next year.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Puppy_Coated_In_Beer"> /u/Puppy_Coated_In_Beer </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/owpdtr/ethereums_london_hard_fork_is_now_2_days_away/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/owpdtr/ethereums_london_hard_fork_is_now_2_days_away/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>EIP-1559 on Ethereum's network was a proposal to make Ethereum transactions more efficient.</p> <p>It aims to maintain the network and keep it more closer to a usage rate of around 50%. If the network usage falls below this, the fees (base fee) will decrease as well. It will also still allow you to increase the fee (called a tip fee) to decrease the transaction time. The base fee is set algorithmically.</p> <p>Wallet providers will no longer have to set their own gas fees as they will now be set automatically.</p> <p>The proposal will be implemented in 2 days, which is also referred to as the London Hard Fork</p> <p>This feature has been long waited for this year. I will not make any price predictions but it's a very, very large step towards the overall Ethereum 2.0 upgrade slated for next year.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Puppy_Coated_In_Beer"> /u/Puppy_Coated_In_Beer </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/owpdtr/ethereums_london_hard_fork_is_now_2_days_away/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/owpdtr/ethereums_london_hard_fork_is_now_2_days_away/">[comments]</a></span>Kind Regards R