Hafez Financial Services

logo-hafez04@2x

London fork enters testnet on Ethereum

Uncategorized

As Ethereum’s London upgrade launches on the Ropsten testnet, mainnet anticipation for stakers and miners increases.

The Ethereum network witnessed the deployment of its London upgrade on the Ropsten testnet on June 24. This upgrade consists of the highly anticipated Ethereum Improvement Proposal (EIP) 1559.

Following the launch on the Ropsten testnet, the London upgrade will be deployed on Ethereum’s Goerli, Rinkeby and Kovan testnets at weekly intervals.

The London upgrade brings five EIPs that are going to be deployed on the testnets — EIP-1559, EIP-3198, EIP-3529, EIP-3541 and EIP-3554. The hotly debated EIP-1559 proposal is a transaction pricing mechanism that consists of a fixed per-block network fee that is burned and allows the dynamic expansion and contraction of block sizes to address the congestion issue.

The London upgrade brings five EIPs that are going to be deployed on the testnets — EIP-1559, EIP-3198, EIP-3529, EIP-3541 and EIP-3554. The hotly debated EIP-1559 proposal is a transaction pricing mechanism that consists of a fixed per-block network fee.

Leave a Reply