Ethereum EIP1559 Upgrade Penciled For July

eth dev call april 23 2021

Work has began on the next ethereum upgrade which burns fees to target a base fee sufficient for the availability of 50% capacity, known as EIP1559 or the fee market upgrade. A devnet is already out according to Tim Beiko, the coordinator of eth1, with the live launch expected in just months. Following a devs call, Beiko said “we’re looking at mid-July for London, and the fork will contain EIPs 1559, 3198 (BASEFEE opcode), 3238 (Ice Age pushback).” He further provided a fairly detailed roadmap with the next step being a clients freeze.It’s not until June that the testnet goes out, with devs seemingly giving just one month for the full-network like testnet environment.The upgrade then is estimated to go live sometime in mid July, or about three months from now.In addition to the fee burning EIP1559 which also tangentially changes ethereum’s crypto-economics, the devs also proposed a speed up…

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