Bitcoin
$66,812.57+0.76%
Ethereum
$3,242.97+1.53%
Binance Coin
$606.79+1.49%
Solana
$157.74+2.58%
XRP
$0.54676042+2.14%
Dogecoin
$0.16145030+0.85%
Toncoin
$5.69-6.97%
Cardano
$0.51162042-0.56%
Shiba Inu
$0.00002727+1.47%
Avalanche
$39.14+0.43%
Wrapped Bitcoin
$67,000.55+1.00%
Polkadot
$7.53+1.23%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
35
DAYS
21
HR
03
MIN
10
SEC
Tech

Ethereum's London Hard Fork Expected to Launch on Aug. 4

The protocol update includes five Ethereum Improvement Proposals (EIPs), most notably EIP 1559 and EIP 3554.

By Myles Sherman
AccessTimeIconJul 6, 2021 at 8:29 p.m. UTC
Updated Sep 14, 2021 at 1:21 p.m. UTC
The British Parliament building in London.
The British Parliament building in London.
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Ethereum’s long-awaited London hard fork is likely to launch on Aug. 4 between 13:00 UTC (9 a.m. ET) and 17:00 UTC, with block 12,965,000. Many Ethereum enthusiasts are excited for the delayed release, while some are watching on with “cautious optimism.”

As a part of a roadmap designed to lead up to the release of Ethereum 2.0, which will replace Ethereum’s current proof-of-work protocol with proof-of-stake, the London hard fork has been implemented into various testnets. After successful activation on the Ropsten and Goerli testnets, the final hard fork release date was decided.

The protocol update includes five Ethereum Improvement Proposals (EIPs), most notably EIP 1559 and EIP 3554, that aim to counter various inefficiencies:

  • EIP 1559 introduces a new fee structure to make Ethereum less inflationary. This protocol change is highly controversial because it aims to burn part of the fees, hence decreasing miner revenue.
  • EIP 3554 delays Ethereum’s difficulty bomb to Dec. 1. This mechanism will incrementally increase the difficulty of mining on the Ethereum network, effectively “freezing” proof-of-work in preparation for Ethereum’s move to proof-of-stake.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.