Ethereum’s long-anticipated hard fork has been pushed to the 4th of August. The news comes after ETH developer Tim Beiko proposed that the fork take place at block 12,965,000. The core developers will make a final decision on the proposal at their meeting beginning midnight on Saturday
The upgrade consists of five Ethereum Improvement Proposals [EIPs] that intend to revamp the gas fee structure, out of which the most EIPs are – 1559 and 3554. While the first one aims to implement a new fee structure to make the network less inflationary, the latter is for the purpose of delaying the difficulty bomb.
Notably, the London hard fork has been carried out into several testnets. Following the successful activation on the two testnets, Ropsten and Goerli, the final hard fork release date was announced. However, according to the Co-founder of ethhub.io, Anthony Sassano, the possibility of more delays could be in the cards. His tweet regarding the same read,
“The mainnet date/block number for London [EIP-1559] is expected to be discussed and possibly announced at this week’s Ethereum Core Devs meeting [July 9th at 14:00 UTC].”
While many have been looking forward to the upgrade since it is a crucial part of the Ethereum 2.0 release, there were many in the community who weren’t very please with the postponement. Prominent crypto Youtuber, Lark Davis, for one, stated,
“It may not actually be soon. lol. Ethereum man… Anyway, the core devs are meeting on the 9th to discuss the release. It was originally scheduled for the 14th. August 4th is now being floated. Could easily be pushed back months.”
Ethereum [ETH] Surges By 4%
London hard fork has been fueling investors’ appetite for the native crypto-asset, ETH. As a matter of fact, ETH had recently broken a 2-week high briefly before undergoing a mild retracement. Shortly after the latest development, it surged by 4% which pushed the token to $2,381, at the time of writing.