In recent days, there has been an update to the Ethereum network called London Hard Fork. The hard fork was implemented on August 5 at 2:33 PM UCT to improve the network. Wondering what has changed and what impact this update will have on investing in Ethereum? We answer!
Ethereum London Hard Fork consists of 5 EIP (Ethereum Improvement Proposal) set. EIP 1559 is one of the major updates to the Ethereum network and introduces a number of changes bringing us closer to the full implementation of Ethereum 2.0. The most important changes to the August Ethereum hard fork are:
The much anticipated London update of the Ethereum network was tied to the hope of rising ETH prices. Traders expected price increases, as was the case at the time of Bitcoin’s halving. What happened in reality?
On the eve of the ETH network update, the price began to rise and continued its upward trend until August 8. On August 9, the price began to fall again, but only for a moment.
In the last 7 days, the price of Ethereum has increased by 26%.
Ethereum will undergo a series of updates this year, the next Shanghai hard fork will take place in December 2021.
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EIP-1559 was implemented on August 5, 2021 at 2:33 PM UCT
The next big Ethereum hard fork will be on December 1, 2021
The Ethereum hard fork (updating the Ethereum network) is the implementation of major changes in the principles of the Ethereum network operation, upgrading towards Ethereum 2.0.
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