Ethereum Hard Forks, Activates Berlin
The Ethereum network hasupgraded, leaving only one hard fork—London, before the multi-stage Metropolis Era concludes. Specifically, these series of upgrades were daunting, with several challenges encountered in Constantinople. Berlin activated at block height 12,244,000, implementing three essential EIPs related to network efficiency, Gas costs optimization, and general network security. Notably, EIP- EIP-2315 didn't make it.
Ethereumis a work in progress being a public network. Up next is the London hard fork, which would see the activation of EIP-1559. Though Gas fees would likely rise, the improvement builds on the other upgrades to tame Ethereum miners blamed for the current state of Gas fees. In the future,Ethereumwill be scalable, Gas efficient, and boasts of a vibrant ecosystem.
Impact on the ETH Price:
Bullish. ETH/USD prices are trending at a near all-time high, with more room for further gains if the upcoming hard fork activates smoothly. Coupled with other network enhancements, the ETH price could tear to over $5k.
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