The London update was released on the Ethereum blockchain network, which brought with it a number of innovations and stabilized the mechanism for calculating commissions for transactions. Immediately after the appearance of this information, the cryptocurrency rate increased from 2.5 to 2.8 thousand dollars.
According to the official disclosure, the new transaction pricing mechanism includes a fixed network fee per block that is “burned” and increases or decreases block sizes to eliminate temporary network congestion.
The developers have previously reported that this change will not affect most Ethereum owners. You will receive a notification if an exchange, web wallet or mobile wallet service requires you to take any action. However, if you are running an Ethereum node, you need to update it by downloading the latest Ethereum client. There are several Ethereum clients, you can find download links in the spreadsheet on the developer blog.
Since May of this year, the average Ethereum transaction fee has been fairly stable, but in the first few months it reached a very high level. After the release of this update, the commission should normalize and keep users who have thought about buying other cryptocurrencies or refunding money in fiat form.
At the time of publication of the note, the Etherium course is 2.77 thousand dollars.
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