Here's a Fact ETH Owners Need to Know Ahead of the 'London Hard Fork'! - Kakiforex.com - Financial Market Media No. 1 in the World Here's a Fact ETH Owners Need to Know Ahead of the 'London Hard Fork'! Here's a Fact ETH Owners Need to Know Ahead of the 'London Hard Fork'!
InstaForex

August 5, 2021

Here's a Fact ETH Owners Need to Know Ahead of the 'London Hard Fork'!

 Ethereum's crypto assets are among the most popular crypto assets. Since these two, it has recorded an encouraging performance by showing significant increases. In these 7 days, ETH has risen 14.88% to the price level of $ 2,618.19.


Today, ETH is gaining attention as there is an unexpected event that the ‘London Hard Fork’ will take place on the 12,965,000 block. This is a much-anticipated event in ETH investors and so far 70% of the nodes are ready for this.


The ethernodes data revealed information that 70% of the Ethereum nodes are ready for the upcoming ‘London Hard Fork’. According to the latest official blog site from Ethereum, ‘London Hard Fork’ will take place at 12,965,000 blocks.



To be compatible with this upgrade, node operators need to update the user version of the platform. Basically, the versions that support London on the Ethereum mainnet are Besu 21.7.1, OpenEthereum v3.3.0-rc.4, previously known as Parity, and EthereumJS VM v.5.5.0.


For information, the London hard fork is the start of the EIP-1559 upgrade which has been scheduled to air on August 4 at block 12965000.


As expected by Ethereum followers, the EIP-1599 can reduce gas costs. At the same time these improvements will also see transaction costs burned, thus affecting Ethereum’s supply over time.