Ethereum developer Tim Beiko initiated a proposal to activate the London hard fork on the main network of the second-largest cryptocurrency by capitalization on block # 12965000, expected on August 4.
Co-founder of the EthHub research platform Anthony Sassano emphasized that the final decision regarding the block number will be made by the developers during the next call on Friday, July 9th.
Part of the upcoming update will be the EIP-1559 proposal, which will burn a portion of the transaction fees. On July 1, it was activated on the Goerli testnet. On July 7, it is expected to be activated on the Rinkeby testnet.
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EIP-1559, presented by Vitalik Buterin in 2018, suggests fairer fees to miners for including a transaction in a block. A certain part of them will be burned algorithmically, depending on the network load.
According to the hard fork specification, in addition to EIP-1559, the update contains five other proposals.