(CNBC) The much-popularized Ethereum ‘London hard fork’ has been activated coinciding with a runup in ether prices.
The upgrade is expected to solve current problems related to Ethereum blockchain by destroying ether coins and making transaction fees more predictable.
The ‘London hard fork’ will still allow Ethereum users to jump the queue by tipping though a bigger change by EIP-1559, doubling the blockchain size.
The new challenge is that the upgrade will deviate a part of the miners’ income to existing token holders.
Some analysts have argued that the EIP-1559 can cause less ether supply and a resulting hike in prices.
EIP-3554 is the other upgrade in ‘London’ fork, whose changes will usher in Ethereum 2.0, a total system overhaul that has been in waiting for years.
ETHUSD is up +2.31%
