#ethereum London hard fork is coming soon. Here's what you need to know.
1 - It may not actually be soon. lol. Ethereum man... Anyway, the core devs are meeting on the 9th to discuss the release. It was originally scheduled for the 14th. August 4th is now being floated. Could easily be pushed back months.
1.1 By the way, there is no fork coin to claim. You will also not need to do anything if you are using a regular wallet or exchange account. Those running nodes will need to upgrade.
2 - The proposed upgrades to this are currently live on Ethereum testnets. In total there are 5 technical upgrades included in this fork.
3 - EIP 3554 Is the difficulty bomb delay until December 1st. This is critical to keep miners happy until the proof of stake merger can happen.
4 - EIP 3198 gives the EVM access to the block’s base fee. EIP 3529 removes and reduces gas refunds. EIP 3541 rejects new contracts starting with the 0xEF byte
5 - The biggest and most anticipated upgrade is EIP1559 which will introduce a base fee and fee burning and will make layer two more reliable.
5.1 While the base fee features are very important, what excites most investors is the fee burning mechanism which is like an automated stock buy back mechanism. Over time this will make ETH deflationary.
Final thoughts. This is an important upgrade and continues to underline the forward thinking innovational nature of Ethereum.
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