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The developers of Ethereum reported on the successful hard fork. Update optimizes online security and reduces commissions
Hardfork Berlin is another point on the way to Ethereum 2.0. And an important structural upgrade ahead of the next London hard fork, which is slated for July 2021.
The activation of Berlin was carried out on 12.244 million blocks in the Ethereum network. Four new algorithms were launched. Two of them (EIP-2565 and EIP-2929) change the principle of calculating the commission for transactions within the blockchain. Others change the logic of transactions by adding new types of transactions (EIP-2718 and EIP-2930).
Berlin was supposed to be launched in the summer of 2020, but was postponed. The reason was the unpreparedness for changes of a large section of the blockchain - the client Geth, on the basis of which works most of the nodes.
All nodes that have confirmed Berlin and switched to an updated blockchain will not be compatible with the unenthought. As this is a major technical update on the way to POS mining and Ethereum 2.0.
Currently, ETH 2.0 is a bridge between current and future blockchains. It's a smart contract that's frozen about $8 billion.
London is scheduled for summer 2021. It will be used to implement the EIP-1559 update. This will change the principle of charging commissions within the network and will lead to the burning of some of the tokens that are allocated to miners.
On the one hand, it will stimulate demand, and on the other hand , the income of miners can decrease by 2 times. Therefore, the miners protested against EIP-1559. However, the update will be implemented by the developers without taking into account their opinion.
We will find out how this will affect the work of Ethereum in July. Currently, the coin is trading at $2,534.16. You can see the current price on the Huobi exchange.
The article has an informational character, reflects the opinion of the author. Before you make a decision, analyze the market situation.