London hardfork (important upgrade of Ethereum)

GreenStox

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Quote from: DarkDays on August 04, 2021, 10:09:50 AM

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???

Of course if I say so and I predict the price will be above 10000$ when it happens, or is my prediction too high?
but because of that it might just happen.

Sollaes

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As I see now, our expectations for lowering prices were not met. As I still see the average price of them is about 8$ what is still very expensive for me compared to Polygon and Binance Smart Chain. Also it is said that there is no difference for usual users. On the other hand this fork made us closer to Ethereum 2.0. So it is definitely important for the Ethereum ecosystem.

masterrex

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Quote from: Yogee on August 04, 2021, 11:54:41 AM

Quote from: masterrex on August 04, 2021, 11:18:05 AM

...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.

You don't get the whole idea of that question and it's too long to write in detail? But you were right and as you said it's an improvement proposal, What I mean is what happens to the network if the miners don't agree with it, since there is an objection. in the first place, that's what I mean. Anyway, it's no use for the debate because I believe Ethereum's EIP's 1559 did not solve the gas fee problem because the transaction fees are still high, just imagine I'm using UNISWAP to Swap a token, it cost me $36 disgusting..its sucks!

MusaMohamed

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Quote from: cunguks on August 06, 2021, 10:05:46 AM

I hope it works like that. before we even started we saw an increase in the price of ethereum. hopefully, when all is successful we will see ethereum that really provides all the solutions to the problems that ethereum has been experiencing for a long time.

The hardfork does not resolve all problems on Ethereum network because gas price is still expensive. I don't see much cheaper gas price after the hard fork.

https://www.gasnow.org/

Ethereum’s London hard fork sets ETH on a more deflationary path.
People feel better about Ethereum because of burning and a future of more deflationary. I guess price of Ethereum rises after hardfork because of deflationary, not because of just a little bit cheaper gas price.

cunguks

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Quote from: liao chandra on August 06, 2021, 10:00:48 AM

the london hardfork is very important to the eth network. The network update aims to improve the performance of the blockchain network on ethereum. The eth platform will be faster, more efficient and effective. This will also make eth experience a high rise.

I hope it works like that. before we even started we saw an increase in the price of ethereum. hopefully, when all is successful we will see ethereum that really provides all the solutions to the problems that ethereum has been experiencing for a long time.

liao chandra

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the london hardfork is very important to the eth network. The network update aims to improve the performance of the blockchain network on ethereum. The eth platform will be faster, more efficient and effective. This will also make eth experience a high rise.

Marvell1

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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

bitkanu

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Quote from: Gayong88 on August 04, 2021, 02:02:40 PM

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.

Dragonfund

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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.

romero121

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Quote from: MusaMohamed on August 04, 2021, 12:33:45 PM

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.

rahmathidayat93

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Quote from: Gayong88 on August 04, 2021, 02:02:40 PM

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.

goaldigger

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Quote from: Yogee on August 04, 2021, 11:54:41 AM

Quote from: masterrex on August 04, 2021, 11:18:05 AM

...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.

ije07

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Quote from: Marvell1 on August 04, 2021, 10:01:25 AM

+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.

MoneyJ

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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.

Tigerheart3026

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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

Gayong88

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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.

khiholangkang

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Quote from: DarkDays on August 04, 2021, 10:09:50 AM

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

terrorJR

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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.

Baofeng

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Quote from: DarkDays on August 04, 2021, 10:09:50 AM

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.

Quote from: DarkDays on August 04, 2021, 10:09:50 AM

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.

MusaMohamed

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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.

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