London hard fork on the ETH network is the main news story of the past week! The most notable updates included in the hard fork are EIP-1559 and EIP-3554. The first one is supposed to drive down both commission fees and miner profits. The second one postpones the mining difficulty bomb until December 2021, which mitigates the decrease in mining profitability somewhat. Once the bomb “goes off”, Ethereum will start the gradual process of moving away from Proof of Work to a more eco-friendly and efficient Proof of Stake and Ethereum 2.0.
Why is this relevant to Credefi? $CREDI tokens are located on the Ethereum blockchain, and whatever happens to Ethereum affects our token too! We are happy that the update that brings more convenience to Ethereum went well!
