What changes will the London hard fork bring to the gas fees in the Ethereum network?

3 answers

• Satish MauryaOct 11, 2021 · 4 years ago
  The London hard fork is expected to bring significant changes to the gas fees in the Ethereum network. One of the key improvements is the implementation of EIP-1559, which introduces a new fee structure. Under this new system, the base fee will be burned, reducing the overall supply of Ether and potentially making it a deflationary asset. Additionally, EIP-1559 aims to make gas fees more predictable by dynamically adjusting the base fee based on network congestion. This means that users will have a clearer understanding of the fees they need to pay for their transactions. Overall, the London hard fork is expected to bring more efficiency and transparency to the gas fee mechanism in Ethereum.
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• maria margatoJun 05, 2024 · a year ago
  Alright, so here's the deal with the London hard fork and gas fees in Ethereum. The main change that's gonna happen is the implementation of EIP-1559. This fancy upgrade is gonna introduce a new fee structure that's gonna make things a lot more predictable. You see, the base fee is gonna be burned, which means less Ether in circulation. And that could potentially make Ether a deflationary asset, which is pretty cool if you ask me. On top of that, the base fee is gonna be adjusted dynamically based on how congested the network is. So you won't have to worry about those crazy gas fees anymore. It's all about efficiency and transparency, my friend!
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• Lucy Ciara Herud-ThomassenDec 12, 2021 · 4 years ago
  The London hard fork, which is set to take place in the Ethereum network, will bring significant changes to the gas fees. One of the major improvements is the implementation of EIP-1559, a proposal that aims to improve the user experience by introducing a new fee structure. Under this upgrade, the base fee will be burned, reducing the supply of Ether and potentially making it a deflationary asset. This change is expected to have a positive impact on gas fees, making them more predictable and reducing the volatility associated with transaction costs. The London hard fork is an important step towards optimizing the Ethereum network and enhancing its scalability.
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