Ethereum takes another step towards 2.0 with the Berlin fork
The Ethereum project recently deployed the Berlin fork. Berlin aims to solve some of Ethereum’s growth problems and make scaling easier than ever. This is an important step in the development of the Ethereum network.
The Ethereum Berlin is a hard fork. Its objective is to solve various problems both in the platform and in the base code.
The Berlin update is a step towards the metamorphosis towards Ethereum 2.0 and seeks to establish a complete change in the way the network processes transaction fees.
You could say that Ethereum has grown faster than it was prepared to have, a real explosion. With this came cost problems in transactions.
EIPs (Ethereum Enhancement Proposals) attempt to solve these problems by introducing solutions to current Ethereum problems.
Something particularly upsetting for the mining community is that reward ratios on the Ethereum blockchain are anticipated to drop by as much as 50%.
To keep growing, Ethereum needs more miners. Miners not only secure the blockchain and keep it stable, but they also play a critical role in developing this ecosystem in a sustainable way.
The well-known mining pool SparkPool took to Twitter to publicly speak out against the new EIP-1559. The EIP-1559 is scheduled for launch in July this year as part of the London upgrade.
SparkPool is a mining pool that focuses on low fees and high security. The SparkPool team believes that the EIP-1559 proposal needs to be further discussed before being implemented.
With the many obstacles the Ethereum network has faced since the Istanbul update, Berlin is a long-awaited step forward. However, as demand for altcoins, NFT, and DeFi skyrocket, it remains to be seen how this update will make these transactions go smoothly and whether gas rates will drop.