A London tour guide: What the EIP-1559 hard fork promises for Ethereum

Ether (ETH) has been on a tear recently, with the premier altcoin’s value increasing from $1,800 to the peak of $2,480 since the start of April, showcasing a growth of nearly 30%. This latest wave of monetary momentum comes in the wake of being on the receiving end of a lot of criticism regarding rising network congestion and transaction costs.

To put things into perspective, since the second half of February, the average cost of facilitating transactions on the Ethereum ecosystem has continued to hover above the $16–$20 range, making it quite impractical for individuals looking to facilitate smaller transactions to make use of the platform. In fact, on Feb. 23, the above-stated fee value shot up to an all-time high of $42, thereby drawing the ire of the crypto community at large.

Will EIP-1559 resolve all of Ethereum’s pains?

Layer-two solutions are the need of the hour

Potential risks associated with EIP-1559

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

×