London hardfork (important upgrade of Ethereum)

[Marvell1]

This is an important upgrade of Ethereum this year
This hard fork can create a new coin or not, subject to consensus and upgrade process(the possibility is not to create a new coin)
Enabled EIPs include: EIP-1559, EIP-3198, EIP-3529, EIP-3541, EIP-3554. Summary of the changes is listed:
 +Gas fee will include base fee and priority fee (EIP-1559). base fee is burned and priority fee for miners will be received.EIP-1559 will make transaction fees predictable even during peak trading hours.If blockchain utilization is greater than 50%, the base fee will automatically increase, and if the utilization rate is less than 50%, the fee will decrease.This is seen as the economic change model of blockchain.Considered one of Ethereum's most important updates.
 +Remove the refund when canceling contract(SELFDESTRUCT). This means gas tokens will no longer be active (EIP-3529).
 +New contracts that start with 0xEF will not be accepted (details: https://eips.ethereum.org/EIPS/eip-3541)
 +Delay Difficulty Bomb until December 1, 2021 (EIP-3554).
Countdown: https://etherscan.io/block/countdown/12965000?fbclid=IwAR0mqn_D23roJ5-hF8lXwQAafeFbHgv-ONmrEIhTgcrDtFn6cqxy0h5-kW8
These will "probably" affect the price of ETH.

[DarkDays]

Yes, the London hardfork which is will take place tomorrow will be necessary for the ETH v2.0 and at the same time hopefully after the successful upgrade we can already enjoy lower gas fees. Something everyone is looking forward to.

On the other hand, ETH should also show a nice positive sentiment, and hopefully this event will act as an instigator to new ATH???

[masterrex]

I hope the London hard fork will be implemented smoothly, for the sake of ETH V2.0 implementation, and also the important part is the ( EIP-1559 proposal) I hope it will be the answer to the expensive gas fees. that we are experiencing previously during peak trading hours, and if it was successfully implemented, I'm sure it will be a game-changer on the Ethereum network and also good for the Ethereum users as well.

But the question is after those EIP's will be enabled/implemented what will happen to Ethereum Network? Since those proposals, or EIP's will change most of the functions on the Network? Anyway just asking!   

[jrrsparkles]

Yes, the London hardfork which is will take place tomorrow will be necessary for the ETH v2.0 and at the same time hopefully after the successful upgrade we can already enjoy lower gas fees. Something everyone is looking forward to.

On the other hand, ETH should also show a nice positive sentiment, and hopefully this event will act as an instigator to new ATH???

It seems there is a little spike on the price of ethereum today but I don't believe this hardfork is enough to bring a new all timehigh for the ethereum and people are expecting the complete roll over of eth 2.0 might do that job. If this hardfork actually reduces the fee then the new tokens may start emerging on it or else BSC is going to the place for upcoming projects.

[Yogee]

...But the question is after those EIP's will be enabled/implemented what will happen to Ethereum Network? Since those proposals, or EIP's will change most of the functions on the Network? Anyway just asking!    

I'm not sure why you're even asking what will happen to the Ethereum chain when EIP means "Ethereum Improvement Proposals". Do we need to say it out loud that it will be improved? Improvements will depend on which issue they are fixing. There will be changes in the codes if that's the thing that you're asking.

[Ozero]

Yes, the London hardfork which is will take place tomorrow will be necessary for the ETH v2.0 and at the same time hopefully after the successful upgrade we can already enjoy lower gas fees. Something everyone is looking forward to.

On the other hand, ETH should also show a nice positive sentiment, and hopefully this event will act as an instigator to new ATH???

It seems there is a little spike on the price of ethereum today but I don't believe this hardfork is enough to bring a new all timehigh for the ethereum and people are expecting the complete roll over of eth 2.0 might do that job. If this hardfork actually reduces the fee then the new tokens may start emerging on it or else BSC is going to the place for upcoming projects.

Yes, we can already see a good rise in the price of ethereum today, and it is possible that this is due to the expectation of tomorrow's hard fork. Moreover, the price of ethereum has risen much higher than the price of bitcoin. So, now the price of bitcoin is $ 39,285, although the increase over the last day is about two percent, but over the week its price has dropped by 1.2 percent. The price of ethereum is now, according to CoinMarketCap, $ 2,663, an increase of 6 percent over the last 24 hours, and an increase of 15 percent over the week.
Of course, in the early days of the London hard fork, the positive results will not yet be seen. This effect will manifest itself over time.

[MusaMohamed]

Less than one day and we will see how the hardfork affects the network tomorrow.

If anyone does not know when it happens, you can check the countdown timer there
https://etherscan.io/block/countdown/12965000

Less than 19 hours left and the upgrade will happen. After so many delays, expectation, frustration, mix of feeling in the community. Eventually it will happen and Ethereum already has been very bullish in the past two weeks.

[Baofeng]

Yes, the London hardfork which is will take place tomorrow will be necessary for the ETH v2.0 and at the same time hopefully after the successful upgrade we can already enjoy lower gas fees. Something everyone is looking forward to.

Yeah, hopefully it will solved the high gas fees that everyone is complaining, specially with the whole swapping thingy.

On the other hand, ETH should also show a nice positive sentiment, and hopefully this event will act as an instigator to new ATH???

If it works by design upon it's released, for sure it will result in a positive sentiments. And we all know that if crypto enthusiast are happy, the price are going to soar in the next couple of days after that. So let's see, it might bring Ethereum to a new all time high, and as I have said in the other threads, it could have a ripple effect to other top altcoins as well.

[terrorJR]

I think with this hard fork some eth connoisseurs will restart their lives here because I think the lure of $5000 at the end of the year will make it very possible for everyone to glance and look back at eth.
other than that I hope this can be realized well, especially in gas prices, basically at this time it is still very difficult to solve and many people are nervous about this but with the hard fork I hope this can be maximized properly because if this is not true -happens hence Jeff Prestes' quote telling blockworks that he expects a transition because it means that gas costs become cheaper and more predictable is a thing and can be detrimental to eth itself.

[khiholangkang]

On the other hand, ETH should also show a nice positive sentiment, and hopefully this event will act as an instigator to new ATH???

It's true that ETH is currently showing positive sentiment, but ATH for ethereum is $4.3K and today ETH price was $2.7k, so I thought the price would go up but didn't create a new ATH

[Gayong88]

A good improvement for ETH, users are strongly advised to exercise caution when borrowing and trading ETH and ERC-20 Because the possibility of price volatility during this time is still very vulnerable.

[Tigerheart3026]

people’s waiting for long time to see this big event hard fork. i think we will get the benefits from two perspective.
eth holders will be benefited, eth pumping and it can make new ath. we can hope gas fee will reduce in the upgrade.
i wishes to success london hardfork

[MoneyJ]

Another hardfork after the theDAO debacle from the first fork of Ethereum.  It has been evolving to keep up the change in real world application. From the original consensus of proof of work, the new fork will implement the proof of stake consensus algorithm and updates a bunch of protocols to its ecosystem like  scaling and eip1559 stuff to make gas fees and  smart contract executions much more efficient and robust. Time will only tell whether this fork will  make Ethereum the dominant cryptocurrency.

[ije07]

+Gas fee will include base fee and priority fee (EIP-1559). base fee is burned and priority fee for miners will be received.EIP-1559 will make transaction fees predictable even during peak trading hours.If blockchain utilization is greater than 50%, the base fee will automatically increase, and if the utilization rate is less than 50%, the fee will decrease.This is seen as the economic change model of blockchain.Considered one of Ethereum's most important updates.

Ethereum price continues to increase and countdown time 14 hours later there will be a hardfork, I also hope with this hardfork and update to the latest version by lowering the current fee price, let's wait if there will be big changes to Ethereum after this hardfork.

[goaldigger]

...But the question is after those EIP's will be enabled/implemented what will happen to Ethereum Network? Since those proposals, or EIP's will change most of the functions on the Network? Anyway just asking!    

I'm not sure why you're even asking what will happen to the Ethereum chain when EIP means "Ethereum Improvement Proposals". Do we need to say it out loud that it will be improved? Improvements will depend on which issue they are fixing. There will be changes in the codes if that's the thing that you're asking.

That’s right, improving the whole ETH network is the main priority so technically, if that upgrade was successful, we can expect a much better system with ETH and hopefully the fees can be address too. Every upgrade is a great move towards excellence, ETH is bound for that and we can see that in the coming months.

[rahmathidayat93]

A good improvement for ETH, users are strongly advised to exercise caution when borrowing and trading ETH and ERC-20 Because the possibility of price volatility during this time is still very vulnerable.

What are you most vulnerable to? because as far as I can see Ethereum is still in good shape even though it often experiences price drops and increases at unexpected times, but in terms of conditions it is still very normal for this to happen.

[romero121]

Less than one day and we will see how the hardfork affects the network tomorrow.

If anyone does not know when it happens, you can check the countdown timer there
https://etherscan.io/block/countdown/12965000

Less than 19 hours left and the upgrade will happen. After so many delays, expectation, frustration, mix of feeling in the community. Eventually it will happen and Ethereum already has been very bullish in the past two weeks.

This doesn't look to happen as a hardfork. Mostly this London Upgrade happens as a softfork as consensus is already reached and there is no big opposition among the miners. The market is bullish at the moment, and this doesn't make a big move in the price immediately.

[Dragonfund]

Now that Ethereum structural chain is changing from the original chain to new one, there is going to be lots of changes and this will not only affect its price but the system, how its described, the community and its holders. I hope this is a stepping stone for everyone who has been a member from day one.
On a second thought, I hope miners stays to properly secure the network, as soon as burning of fee get implemented, many of them will make a switch which may likely affect the network security.

[bitkanu]

A good improvement for ETH, users are strongly advised to exercise caution when borrowing and trading ETH and ERC-20 Because the possibility of price volatility during this time is still very vulnerable.

It seems like the upgrade already brought so many new people to get into the ethereum as soon as possible. Just see the detail about the update but the difficulty bomb as a way to decrease the inflation gets delayed again. This may become a game changer to complete the update to determined the hardcap supply of ethereum.

[Marvell1]

Update: 75.2% of Ethereum clients Ready for "London Hard Fork ". Among them, 69% of Geth customers and 93% of Openethereum customers are also ready.
Watch the London Hardfork live on:  https://www.youtube.com/watch?v=afAFQY--GlI