Berlin Hard fork

Berlin Hard Fork Goes Live on Ethereum Network

Today, April 15, the much anticipated Berlin hard fork has been successfully deployed on the Ethereum mainnet. The hard fork consists of four EIPs (Ethereum Improvement Proposals) poised to lower gas fees and computation costs.  The Ethereum team had earlier revealed that the upgrade aims majorly at price regulation.

The latest hard fork was updated at block 12,244,000 this morning and comes after the Istanbul and Muir Glacier upgrades. Ethereum miners and node operators are expected to have downloaded the updated version of their Ethereum client.

However, ETH holders are not required to do anything unless otherwise stated by their exchange or wallet service. The Berlin upgrade will be followed by the London upgrade which brings the network closer to the desired Ethereum 2.0.

The Berlin hard fork was officially announced on March 8 when the Ethereum team laid out a rough plan. On March 10, they launched the first testnet “Ropsten”, followed by Goerli network on March 18, with Rinkeby on March 24th.

Ethereum Berlin Hard Fork Targets Gas Fees

Following the news of the successful upgrade, many Ethereum fans have expressed their support as they celebrated the milestone on Twitter. The Berlin hard fork has now introduced four Ethereum Improvement Proposals to the network: EIP-2565, EIP-2718, EIP-2929 and EIP-2930.

Ethereum’s EIP-2565 tagged as “ModExp Gas Prices” lowers the gas cost for modular exponentiation. ModExp, as it is widely known, is a discrete exponential function that is crucial for many cryptographic functions. The EIP-2565 will reduce the cost of Ethereum’s ModExp compiler.

The EIP-2718 called “Typed Transaction Envelope” introduces a new transaction type to allow for multiple transaction types. The EIP-2929 increases the gas cost for state access operations (opcodes), which is aimed at preventing network spams. The EIP-2930 will reduce the gas cost associated with the EIP-2929.

The Berlin brings Ethereum closer to the London fork (EIP-1559) which is scheduled to roll out in July. The London upgrade will adjust the existing auction process that determines transaction prices.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
Related Posts