Hello to my friends who love life and keep smiling despite all kinds of negativity. Today will be the most important update in Ethereum history. What will change with this update…? Will it be a big change for Ethereum…? Will it be able to escape the shadow of Bitcoin … ?
Let's start …
Ethereum London promises many innovations with its hard fork. It will take place on August 5 (today). It will give significant support to ETH 2.0.
5 key features of Ethereum London hard fork;
Making Ethereum deflationary (EIP-1559); Depending on the Ethereum network density, the protocol will impose a basic fee on each block that it dynamically issues or expands. The network transaction fee, which is fixed per block, will be burned, making Ethereum less inflationary.
Improving the user experience for smart contracts (EIP-3198); The base fee is the amount of ETH paid for each block created, which can help with transaction fee efficiency and reduce transaction fees. This low amount of ETH paid is intended to improve the user experience in smart contracts.
Reducing ineffective refunds (EIP-3529); Due to refunds, the transaction fee used in a block can go up to twice the time limit. Eliminating this undesirable situation will improve transaction fee increases in the network.
Facilitate future Ethereum updates (EIP-3541); Although it is known that it will not eliminate all problems with software updates, the main purpose is to provide a solution for some common problems.
Defuse the difficulty bomb (EIP-3554); Difficulty bomb is a term used to denote the difficulty of mining Ethereum. To defuse the difficulty bomb, it is necessary to switch from Proof Of Work (PoW) to Proof Of Stake (PoS) with network upgrade. It aims to reduce the impact of the difficulty bomb, giving developers more time to migrate to Ethereum 2.0.
My last words; The successful implementation of these updates will have a very positive effect on the ETH price. Not just for the price, it will keep new projects leaving the Ethereum network coming back. Transaction fees, which have turned into a nightmare, are expected to be serious improvements. It will evolve faster on DEFI over ethereum. My friends, Ethereum is not just a cryptocurrency. It is one of the cornerstones of blockchain technology along with Bitcoin. After these updates, there will be an important development in the cryptocurrency markets. The trend's dependence on Bitcoin will decrease. I'm not talking about Bitcoin's declining value. Ethereum and altcoins will be able to act more independently.
Ethereum roar… We are ready to applaud ETH…
As I always say, listen to everyone, decide for yourself...
Buy when everyone is selling, sell when everyone is buying...
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