AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
New Fork on the Block. Will we get Ethereum’s London hard fork in Q3? According to developer Tim Beiko, the answer is a resounding yes. On August 4, 2021 with block 12,965,000, the upcoming fork will introduce the much-debated EIP-1559, where transaction fees will no longer be paid out to miners on the network.
With users having to only pay a base fee that will eventually be burned, a voluntary tipping system will be put into place. Miners can receive additional tips from users and prioritize transactions accordingly. Pending client teams’ approvals, it is likely we’ll be seeing the London fork sooner rather than later.