Ethereum Founder Breaks Silence With Major Upgrade Proposal
Ethereum co-founder Vitalik Buterin has unveiled a major proposal that could fundamentally reshape how the network handles transaction fees. His new design aims to replace unpredictable costs with a system that lets users plan and budget more effectively, signaling one of the most significant shifts in Ethereum’s economic framework in years. Ethereum Gas Fees As Predictable, Prepaid Resources Buterin’s proposal centers on a new on-chain gas futures market. Today, gas fees rise and fall based on network congestion and users have no way to know in advance what they will pay, which....
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The most anticipated upgrade since the inception of Ethereum was carried out on August 5th. The upgrade has already started burning coins. So far hitting over 3 ETH burned per minute in the last 24 hours. Following the upgrade has been Ethereum co-founder saying the upgrade shows the network can make significant changes. The success […]
The much-talked-about London upgrade has finally happened on the Ethereum network as ETH arguably moves closer to becoming a deflationary asset. The London hard fork arrived almost on schedule at 12:33 pm UTC on Thursday at block height 12,965,000, ushering in the Ethereum Improvement Proposal (EIP) 1559.With the upgrade triggered, Ethereum will now undergo a significant overhaul of the network’s transaction fee market and other parameters such as gas refunds among others. Under EIP-1559, each transaction on Ethereum will involve burning the base fee, which automatically decreases the....
Staked ETH withdrawals and lower gas fees are among the developments expected with the upgrade. Staked ETH withdrawal and lower gas fees are some of the developments expected with the next critical improvements for the Ethereum network, the Shanghai upgrade. The testnet version, dubbed Shandong, is now live. Developers can now begin working on the implementations; a process expected to continue until September 2023. This is the first major update since Ethereum's consensus switched to Proof-of-Stake (PoS) in September after the Mainnet and Beacon Chains merged.Moreover, the coming upgrade....
In the past few weeks, Ethereum has been experiencing sideways movements, causing its price to fall below the $3,500 mark. However, with several key updates incoming, such as the Fusaka Upgrade, ETH may attract the necessary attention and adoption that will pave the way for a major rally to pivotal levels. Fusaka Upgrade The Tipping […]