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 is too early to conclude mate because we know the power of miners , they are one of the most important factor of every currency and taking their profit that high will bring bad reaction from mining community .
though ethereum 2.0 seems to be a complete package and will support users, company and the miners yet this is very early to tell.
The most important thing I'm anticipating is reduction in gas fee I don't know much about the technical aspects of the whole coding as I'm just limited to trading HODLing and sending. It is a known fact that the ETH 2.0 will be a better upgrade to the current mechanism of the Ethereum network. Eliminating the irrelevant fees imposed on us by miners is great.
all of us are seeking this mate, because we don't want to happen what had happened early this year when the gas fee of ethereum is almost or more than the fee of bitcoin transactions .