{"id":10491,"date":"2021-08-04T20:54:27","date_gmt":"2021-08-04T20:54:27","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/ethereum-community-gears-up-for-the-long-awaited-london-fork-set-to-go-live-on-august-5\/"},"modified":"2021-08-04T20:54:27","modified_gmt":"2021-08-04T20:54:27","slug":"ethereum-community-gears-up-for-the-long-awaited-london-fork-set-to-go-live-on-august-5","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/ethereum-community-gears-up-for-the-long-awaited-london-fork-set-to-go-live-on-august-5\/","title":{"rendered":"Ethereum Community Gears up for the Long-Awaited London Fork Set to Go Live on August 5"},"content":{"rendered":"

The Ethereum community has been gearing up for the highly anticipated London Network Upgrade which should take place on August 5 around 2:00 p.m. (EDT). Node operators have been asked to upgrade their nodes as soon as possible, as the upgrade is scheduled to take place at block height 12,965,000.<\/strong> <\/span><\/p>\n

Ethereum Set to Fork on Thursday, Blockchain Will See 5 Improvements<\/h2>\n

According to the <\/span>countdown clock<\/span><\/a> hosted on etherscan.io, the Ethereum (ETH)<\/a> blockchain will be upgraded in the near future, on or around Thursday afternoon. Previously, Bitcoin.com News <\/span>reported<\/span><\/a> on the London upgrade on July 9, 2021, and at the time it was estimated block 12,965,000 would fall on or around August 4. <\/span><\/p>\n

According to Ethernodes data, as of 16:20 Beijing time, 65.6% of the nodes are ready for the Ethereum London hard fork, and the remaining 34.3% will be upgraded within 2-3 days. pic.twitter.com\/BXIl67LIeh<\/a><\/p>\n

\u2014 Wu Blockchain (@WuBlockchain) August 3, 2021<\/a><\/p>\n<\/p>\n

The \u201cLondon Mainnet Announcement\u201d was revealed by Tim Beiko when the developer <\/span>wrote a summary<\/span><\/a> about the upgrade via the official Ethereum blog.<\/span><\/p>\n

Man, I\u2019m so ready for Ethereum 2.0. <\/p>\n

I was literally talking about it since before Eth even launched.<\/p>\n

I don\u2019t believe most people truly understand how game-changing Serenity will be\u2014 Dapps like @AugurProject<\/a> will be 100x more efficient and usable.<\/p>\n

So excited.<\/p>\n

\u2014 Jeremy Gardner (@Disruptepreneur) August 4, 2021<\/a><\/p>\n<\/p>\n

With the countdown clock ticking down, the Ethereum fork should take place on Thursday on or around 2:00 p.m. (EDT), depending on how long it takes to process more than 5,000 ETH<\/a> blocks. The London hard fork includes a total of five Ethereum Improvement Proposals (EIPs). The EIPs included in tomorrow upgrade include:<\/span><\/p>\n

EIP-1559: Fee market change for ETH 1.0 chain<\/span><\/a>
\nEIP-3198: BASEFEE opcode<\/span><\/a>
\nEIP-3529: Reduction in refunds<\/span><\/a>
\nEIP-3541: Reject new contracts starting with the 0xEF byte<\/span><\/a>
\nEIP-3554: Difficulty Bomb Delay to December 1st 2021<\/span><\/a><\/p>\n

<\/p>\n

Ethereum Markets See a Streak of Daily Gains<\/h2>\n

Prior to the upgrade, ETH<\/a> has managed to jump over 8% in value on August 4, and weekly statistics show ETH<\/a> is up over 15% on Wednesday. 30-day statistics show ethereum (ETH<\/a>) has gained 21% but the crypto asset is only up 10% during the trailing 90 days. Ethereum prices have managed to gather well over a week of daily gains prior to the fork.<\/span><\/p>\n

Probability that Ethereum’s London upgrade (including EIP 1559) goes off flawlessly?<\/p>\n

\u2014 John W. ???????? (@_JohnWhelan) August 2, 2021<\/a><\/p>\n<\/p>\n

When the community discusses the London hard fork, usually it is said that the most significant changes added to the blockchain will include EIP-1559 and EIP-3554. EIP-1559 will change Ethereum\u2019s fee rate to a new scheme that makes the crypto asset ether deflationary. While EIP-3554 adjusts the Ethereum miner difficulty bomb to ease the transition from proof-of-work (PoW) to proof-of-stake (PoS).<\/span><\/p>\n

On Thursday there will be an <\/span>Ethereum London Upgrade community call<\/span><\/a> and an <\/span>Ethstaker live watch call<\/span><\/a> as well. <\/span><\/p>\n

What do you think about the upcoming Ethereum London Upgrade? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, August 5, block 12965000, Blockchain, EIP-1559, EIP-3198, EIP-3529, EIP-3541, EIP-3554, ETH, ETH 2.0, Ethereum, Ethereum 2.0, Ethereum core developers, Ethereum Upgrade, Hard Fork, London Hard Fork, mainnet activation, PoS, PoW, Tim Beiko, Upgrade<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ethereum community has been gearing up for the highly anticipated London Network Upgrade which should take place on August 5 around 2:00 p.m. (EDT). Node operators have been asked to upgrade their nodes as soon as possible, as the upgrade is scheduled to take place at block height 12,965,000. Ethereum Set to Fork on…<\/p>\n","protected":false},"author":0,"featured_media":10492,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10491"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10491"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10491\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10492"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}