As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.
But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.
What are your expectations from this and how it will affect the overall ethereum ecosystem?
It was a good move by the Vitalik and his developers specially that price of transaction fee in ETH network is very much up there.
It could possibly compete with BSC tx fee now. I see a very good future here for ETH and its holders, I expect a new ATH within a year or so.
UNISWAP traders will also be glad to hear this specially that for every transaction, you pay almost a 100$ for fees. Moreover, I think ETH is now
undervalued probably good time to have more.