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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