Quote from: MUG1WARA on Today at 08:17:09 PM

Quote from: BIN-BIN on August 05, 2021, 01:44:04 PM

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?

That's some pretty awesome update, the part that got me was the part where fees will be burned instead of been given to miners, also the decrease in supply of Ethereum is a huge one, these will definitely make Ethereum even more valuable, I think once the ETH 2.0 goes live we might see Ethereum at $10,000,honestly this is really huge Ethereum will be a blast after this upgrade is done.

Sure good update and will bring nice improvement which will reflect on eth regarding usage and price too. But we need to wait, date we dont have so patience is key Grin