{"id":315006,"date":"2021-08-03T23:30:00","date_gmt":"2021-08-03T20:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereums-london-hard-fork-expected-to-arrive-on-thursday-ushering-in-eip-1559\/"},"modified":"2021-08-03T23:30:00","modified_gmt":"2021-08-03T20:30:00","slug":"ethereums-london-hard-fork-expected-to-arrive-on-thursday-ushering-in-eip-1559","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereums-london-hard-fork-expected-to-arrive-on-thursday-ushering-in-eip-1559\/","title":{"rendered":"# Ethereum\u2019s London hard fork expected to arrive on Thursday, ushering in EIP-1559"},"content":{"rendered":"

“# Ethereum\u2019s London hard fork expected to arrive on Thursday, ushering in EIP-1559 <\/strong>”
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Ethereum\u2019s London upgrade is set to activate on Thursday, according to the countdown available<\/a> on Ethereum.org. \u201cThe London upgrade is scheduled to go live on Ethereum in August 2021, on block 12,965,000,\u201d Ethereum.org reads. \u201cIt will introduce EIP-1559, which reforms the transaction fee market, along with changes to how gas refunds are handled and the Ice Age schedule.\u201d<\/p>\n

Ethereum Improvement Proposal 1559, or EIP-1559, will directly affect how the network handles transaction fees. Going forward, each transaction will burn\u00a0a base fee, thereby decreasing the asset’s circulating supply, and give users the option of including a tip to help incentivize speedier confirmations proportionate to network demand.\u00a0The London fork will also introduce<\/a> other EIPs, such as EIP-3541, according to a blog post from the Ethereum Foundation in mid July.<\/p>\n

Twitter<\/a> user korpi pointed<\/a> out a number of notable points regarding EIP-1559 in a tweet thread on Monday.<\/p>\n

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EIP-1559 is scheduled to go live this week and I still see a lot of wrong takes on its impact. Remember:<\/p>\n

– It doesn’t make $ETH<\/a> deflationary by default.
– It doesn’t reduce $ETH<\/a> supply by 90%, referred as “trip<\/a>le halving”.
– It’s still very bullish for $ETH<\/a>.<\/p>\n

Why? <\/p>\n

\u2014 korpi (@korpi87) August 2, 2021<\/a><\/p><\/blockquote>\n