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
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