London Hardfork of Etheruem EIP 1559 Activated on Ropsten Testnet
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London Hardfork of Etheruem EIP 1559 Activated on Ropsten Testnet

June 24, 2021      Sahaj Sharma

The London hardfork of Ethereum can be considered one of the most awaited upgrades for the entire blockchain scene in 2021, and Ropsten has become the first test network to support the hardfork. In accordance with the Twitter post by Tim Beiko, the core developer of Ethereum revealed that the London hardfork of Etheruem was activated on the Ropsten test network. 

Ethereum EIP 1559 Implemented on Ropsten Testnet

Tim Beiko admitted that the implementation took a bit longer than the expected time and at the same time, it should be noted that this update is the first-ever implementation in the testnets of Ethereum. 

Moreover, it should be noted that this important upgrade will be activated on the Goerli test network on June 30 on Rinkeby and the implementation is expected to occur by July 7, 2021.

In addition to this, the core developer said that the Ropsten test network authenticates the blocks with slowed speed due to the lack of extractors who update their equipment in time as the extraction in the test net is majorly generous.

Talking further about the much-anticipated London hardfork, it includes EIPs, which stands for Ethereum Improvement Proposals. It should be noted that the EIP1559 upgrade is considered one of the most important ones as it comes with an introduction of dynamic fee structure and executes periodical fee burnings. 

What Happens After Upgrade

Hence, it can be said that with the activation of the EIP 1559 upgrade, Ethereum is taking a step further to become a deflationary asset for the very first time in history.

Well, in accordance with some market analysts, the activation of this upgrade is considered to be a bullish catalyst for the price of the second-largest cryptocurrency.

However, the gas fees of Ethereum will fall for the users, some extractors of ETH have conflicted with this hardfork for years.

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#EIP-1559 #Etheruem #London Hardfork of Etheruem #Ropsten Testnet
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.