Ethereum Testnet Begins Burning ETH Ahead of EIP-1559 Modification
The Ethereum (ETH) London hard fork got launched on the Ropsten testnet yesterday in anticipation of the mainnet rollout in July. This impending upgrade will implement the highly-anticipated EIP-1559 modification, which should adjust the Ethereum transaction fee calculation mechanism.
Meanwhile, the next phase of the London hard fork rollout is deployment on the Goerli testnet, scheduled to occur on June 30. After that, the hard fork will get launched on the Rinkeby testnet on July 7 and subsequently on the mainnet later in July.
Apart from adjusting the Ether transaction fee calculation mechanism, the EIP-1559 modification will burn the “base fee,” making the Ethereum economy more deflationary over time. Reports show that a website, known as Watch The Burn, got created to…
For the remainder of this analysis and the signal to place this trade, please join our VIP group here: https://cryptosignals.org/
