Tradoor.io - Trade Crypto With Leverage (@tradoor_io): On August 5, 2021, Ethereum launched the London upgrade.

On August 5, 2021, Ethereum launched the London upgrade. Before the upgrade, users competed for limited block space by offering fees. It was often difficult to know how much to pay, and miners received the full transaction fee. The London upgrade introduced EIP-1559 and a new fee system: 🔥 The network sets a base fee based on demand 🔥 The base fee is burned, permanently removing that ETH 🔥 Users can add a tip for the miner—or today, the validator—processing the transaction Burning the base fee makes fee manipulation more expensive. It also connects Ethereum’s supply to network use: busy periods generally cause more ETH to be burned. If Ethereum burns more ETH than it creates as validator rewards, its total supply decreases. This does not guarantee a higher price, but a smaller supply may support ETH’s value if demand remains strong.