What is the London-based network for Ethereum and how does it work?

1 answers

• Teja FrostJul 22, 2022 · 3 years ago
  Ah, the London-based network for Ethereum! It's a recent upgrade that has brought some exciting changes to the Ethereum blockchain. The upgrade includes EIP-1559, which introduces a new fee structure for transactions. Instead of relying solely on gas fees, EIP-1559 introduces a base fee and a tip, making it easier for users to estimate transaction costs. Additionally, EIP-3554 delays the difficulty bomb, which is a mechanism that increases mining difficulty over time. This delay ensures that the Ethereum network remains functional and secure. Overall, the London-based network for Ethereum is all about improving user experience and preparing for future upgrades. Exciting stuff, right?
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