The London hardfork has been scheduled for three Ethereum testnets, which is an important step toward a full mainnet implementation.
For three Ethereum testnets, the much-anticipated “London” Ethereum hardfork now has a predetermined block height – the final stage before the complete mainnet rollout.
The Ropsten, Goerli, and Rinkeby testnets now have defined block heights at which London will go live, according to Ethereum core developer Tim Beiko in a blog post on the Ethereum Foundation’s website. Ropsten is slated to be the first at block 10499401, or sometime on June 24th. On June 30th, Goerli is scheduled to arrive, followed by Rinkeby on July 7th.
However, a release date for the crucial mainnet upgrade is still being worked out.
“At this time, only the testnets (Ropsten, Goerli, and Rinkeby) are set to run in London. “A block will be set for the Ethereum mainnet and publicized on this blog and other venues after the upgrade has been successfully triggered on these networks,” Beiko stated.
EIP-1559 is the star of the show in the London hard fork upgrade, which includes five Ethereum Improvement Proposals (EIPs). EIP-1559 is a rewrite of Ethereum’s present fee system that is projected to dramatically lower gas prices for consumers. However, it is possible that it will reduce miner revenues by up to 50%, prompting some mutterings of a “miner rebellion” that has yet to materialize.
The update is seen as one of several optimistic catalysts on the horizon for Ethereum, including the ETH 2.0 upgrade. ETH 2.0 will upgrade the network to a more scalable proof-of-stake consensus method, lowering the energy consumption of validation blocks dramatically.
Such big system improvements to a decentralized system, according to the blog article, are a feat of coordination.
“Because blockchain systems are decentralized, upgrading a network is more challenging. In order for a blockchain network update to go well, it requires collaboration and communication with the community as well as the developers of the many Ethereum clients.”