According to the news, the last year has been quite a huge one for the network of Ethereum as they introduced Ether 2.0. The upgrades made as a series of adjustments include a switch all the way to the proof of stake along with transaction rollups implementations.
With the London hardfork being made public, it is pretty visible now that the network which is going to push the goals of this blockchain network is quite scalable, along with a far sustainable ecosystem.
The importance of this network upgrade consistently hitting the benchmarks has increased at a considerable rate- with the network activity reaching an all-time high. Interestingly, this is in part due to the engagement as well as the hype that surrounds the DeFi protocols as well as the NFTs.
Post Berlin Hardfork And Its Effect On Ethereum
The network of Ethereum, quite recently, underwent the hardfork of Berlin. Unsurprisingly, this has been quite a big moment for the blockchain network- especially since the post-NFT boom.
The Ether Improvement Proposals of Berlin has touched on several major issues that have come to the forefront of the voices of several users and developers within the crypto community. One of the major points that have come up is how the network has processed transactional fees.
Several other features include the lowering of the cost of gas while introducing a completely new mode of transaction that would support multiple transactions at the same time. Also, the Proposal from Berlin needed to be introduced in a way so as to garner maximum anticipation for the EIP-1559.
Tim Beiko, the developer of Ethereum, recently tweeted about the blockchain network looking towards solutions. He further stated that following EIP-1559, a return value might not be the best approach to deal with transaction costs. If one were to single value, it might simply lead to people overpaying because they have been overly reliant on an out-of-date value.
