Ethereum Developers Confirm London Upgrade Is Ready for Mainnet Activation

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Today’s Headline

After a successful test-net deployment, Ethereum London Upgrade is now ready to be activated on the Ethereum main-net. It will go live on block 12,965,000, which is expected between August 3-5, 2021. Once activated, the London Upgrade will activate five Ethereum Improvement Proposals on the Ethereum Mainnet. Ethereum enthusiasts are very excited about the shift from Proof of Work (PoW) to Proof of stake (PoS) as the next critical step towards Ethereum 2.0.

EIP-1559 is one of the most eagerly awaited proposals since it will allow users to specify the maximum fee they are willing to pay and the amount they are willing to send to the miner. Part of the transaction fees is set to be burned, and many people in the community are looking forward to burning ETH. It is viewed as a critical improvement over the economics of the Ethereum network.