The Ethereum network’s gas fee has skyrocketed for the past few months, and this has attracted criticism from experts following the traffic on the blockchain. Fortunately, the Berlin hard fork would likely be the solution to the increased gas fee as the Ethereum team has been working towards finding a suitable solution for the popular blockchain.
The network, which is home to NFTs and DeFi projects, has seen increased activities as the digital asset industry continues to see notable gains. The non-fungible token industry has also broken outstanding records as it one of the growing sectors within the whole industry.
Berlin hard fork to incorporate four EIPs
The Berlin hard fork is an upgrade for the Ethereum network has it would likely improve many parts of the blockchain. The hard fork has four Ethereum improvement proposals. This news has caused some buzz on social media as the digital asset community anticipates the group’s next move on solving the network’s issues.
Despite Ethereum’s current problems, the blockchain continues to record many activities, showing the huge demand for the network. The demands are the reason for the transaction fee growth, and the experts have been working towards improving the problems and finding suitable solutions.
While people pay higher for their transactions to be prioritized, sources explained that the network has been unable to assure quick transactions, which has delayed many pending settlements. Even low priority transactions are paying higher than they use to as Ethereum tries to settle all transactions, following the growth of newer sectors within the industry, such as the decentralized finance projects. The team behind the network understands the problems faced by average users and has brought the Berlin hard fork to reduce the high gas fee they pay to assure transaction settlement.
Also read:Berlin upgrade would improve the ETH network
The creators named the hard fork after the host city where it had its inaugural convention. The hard fork is a recently created upgrade to assure changes to the blockchain. It’s safe to add that those who mine ETH should upgrade their system as changes would be on the network.
Sources explained that the Berlin hark fork would incorporate the network’s improvement proposals, which have been initiated by the blockchain’s users and eventually added to the system by its developers. Some of the improvement proposals include EIP-2565, which is known for reducing Ethereum’s transaction fees, and another one, EIP-2718, which is for combining transactions made by people.
With the proposals, people won’t have to do multiple transactions, saving time and money. The creators explained that the upgrade would soon be available for users and explained that people could read more about the upgrade via Ethereum’s official Twitter page.
Other Ethereum Improvement Proosoals include one from Martin Swende and the other one for Ethereum’s founder, Vitalik Buterin. One of the proposals, EIP-2929, would help people settle transactions faster for an increased gas fee while reducing a DoS attack’s possibilities. Another one is EIP-2930, which prevents the disruption of smart contracts, making the process easier for users.
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