Ethereum\u2019s London hard fork took place at block 12,965,000. Here\u2019s what you need to know about it.Get instant $50 mining bonus upon signing up for BBCStaticMiner. Earn more from your crypto through daily profits in returns from mining pools unique to the selected contract.Ethereum, the second-largest blockchain network, went through a major software upgrade on Thursday, which is expected to stabilize transaction fees and reduce supply of the ether token.Ethereum\u2019s London Hardfork went live on blocks 12,965,000 bringing 5 key changes to the network. Among these five Ethereum Improvement Proposals (EIP) implemented today.EIP-1559 is certainly the most talked-about upgrade. While there is a common perception that EIP-1559 would reduce gas fees, the reality is it would only stabilize the transaction fee bracket to root out high fluctuation.A fixed transaction fee could potentially bring down the gas fee compared to the early days of bidding by users. This was visible from the first few blocks mined after the upgrade. The current average gas fee is at 7 gwei and the lowest being 3 gwei.The EIP-1559 would cut the direct interaction between users and miners, where earlier users used to bid higher gas fee amounts to process their transactions. Now users would have an estimate about the expected transaction cost, which would be forwarded to the miners by the network. More importantly, the remaining ETH would be burnt and removed out of circulation supply. This would, in turn, make Ether a deflationary asset, increasing the value of the existing circulating supply.There are four more proposals that come into effect with the hard fork. EIP-3198 extends the UX improvements of EIP-1559 to smart contracts.EIP-3529 aims to remove the refunds on the network. This aims to make it more stable.EIP-3541 is something that doesn\u2019t do a lot in itself, but it paves the way\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Ethereum\u2019s London hard fork took place at block 12,965,000. Here\u2019s what you need to know about it.Get instant $50 mining bonus upon signing up for BBCStaticMiner. [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/5103"}],"collection":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/comments?post=5103"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/5103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/media?parent=5103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/categories?post=5103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/tags?post=5103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}