The cost of enabling transactions on the Ethereum ecosystem has ranged between $16 and $20 since the beginning of the year, reaching as high as $100 on high-volume DApps like Uniswap. From this perspective, the Ethereum community feels relieved by the shift to Ethereum 2.0 (Eth2) as a solution aimed to resolve scalability concerns and tackle the problem of soaring gas fees.
ETH2 can make network measurement easier and is also environmentally friendly when validating and generating new coins. ETH2 which is also known as Serenity can improve the technique that can turn the Ethereum blockchain into a proof-of-stake (PoS) protocol which was previously a proof-of-work (PoW) protocol.
Fork on the road in Berlin
On April 15, the Berlin upgrade went active at block 12,244,000. Berlin is a predecessor to the larger London hard fork and includes four Ethereum Improvement Proposals (EIPs) that deal with gas costs and enable new transaction types. The decrease of gas fees on Ethereum was the subject of Berlin's EIP-2565.
Reactions to the Berlin Conference
The EIPs implemented with the Berlin hard fork were intended to lower gas charge costs at a time when network saturation was at an all-time high while also improving Ethereum's efficacy. However, the upgrade was repeatedly postponed due to worries about probable vulnerabilities induced by the upgrade's centralization.
Furthermore, the Ethereum community agreed that, while Berlin would have a smaller immediate impact, it would pave the way for the EIP-1559 protocol of the planned London hard fork.
Increasing block elasticity using the London hard fork
The Ethereum London hard fork is a step on Ethereum's path to releasing Eth2. The long-awaited hard fork is expected to go live on August 4th, after being pushed back from the end of July. The Ethereum London hard fork will feature five Ethereum Improvement Protocols. The EIP-1559 and EIP-3554 are two of the most notable of the five EIPs.
Hard forks on Ethereum have a bright future ahead of them
The London and Berlin hard forks are just the start of Ethereum's upgrade recommendations before Eth2 goes live. Ethereum will prepare for the Shanghai hard fork after the London hard fork, which is expected to go live by the end of 2018.
The Shanghai hard fork will be the final step in integrating Eth1 and Eth2. This time around, the update will only implement a merger, rather than adding a new feature to the future Eth2, as in previous hard forks.
The Ethereum community is divided, with some anticipating lower transaction fees with a PoS blockchain and others lamenting a loss of income. It's unclear if the upgrades will lead to a successful Ethereum 2.0 transition.
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