Tag: Eip 1559

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The launch of the 11th hard fork upgrade in line with Ethereum 2.0 made headlines across global media outlets in recent months. With the introduction of the Ethereum Improvement Protocol (EIP) 1559, the underlying code to the blockchain adjusts the current rewards model for miners, outlining a controversial and radical update. Some Ethereum miners in the community were unsure about this, leaving questions around implementing the Ethereum London hard fork. The backward-incompatible update requires support and commitment from the majority of the network. But, what exactly does the Ethereum London hard fork do? And, what are the effects of EIP-1559?

As the weeks roll by, we are getting closer to Ethereum’s major 2021 network upgrades. You may already have heard about either the Ethereum Berlin Hard Fork, scheduled for April, or the Ethereum London Hard Fork slated for July. In this article, we go through both of these Ethereum Network upgrades, along with the Ethereum Improvement Proposals (EIPs) that will be packaged with them. Read on for the ultimate guide to the Ethereum Berlin Hard Fork and the Ethereum London Hard Fork!

EIP-1559 could offer some good news for those longing to see improvements to Ethereum's user experience and the current gas fee system. This proposal has recently been accepted into Ethereum’s London network upgrade scheduled to come to the mainnet this summer. This upgrade is now being intensely debated following its recent inclusion in the London fork, even though it has been over two years since EIP-1559's initial proposal.

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