Basic FAQ London Hard Fork — Ethereum Network Upgrade
1.What is London Hard Fork?
The London Hard Fork is an Ethereum network upgrade that includes the EIP-1559 that will be happening on 5th August 2021, at 6 pm.
2.What is the network upgrade for?
This upgrade makes transactions on Ethereum more efficient by changing block sizes are determined and how transaction fees work by introducing a hybrid system of the base fees and tips.
3.How does it work?
This upgrade will add a base fee to each transaction that happens on the Ethereum blockchain, including all Ethereum and ERC20 transactions.
4.How long will the suspension take place?
Approximately 3 hours, from 6 pm till 9 pm, 5th August 2021.
5.What will happen to my ETH deposit and withdrawal transactions?
All ETH deposit and withdrawal transactions on Tokenize platform will be suspended during the upgrade.
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