The start of 2021 brought with it never-before-seen levels in gas transaction fees on the Ethereum blockchain.
As you surely know, last April, this Blockchain was updated with the well-known "Berlin update".
With block number 12,244,000 reached and proposals that Berlin (without so many technicalities) would cut some gas costs, speed up processing times, limit denial of service attacks and reduce the risk of broken smart contracts, you might wonder, did it really happen?
It had already been announced by many that the Berlin upgrade did not have as one of its objectives the reduction of gas rates per transaction, although many others put our hope that it could.
Many are still the alarms on Ethereum fees, so many "enthusiasts" set their sights on non-fungible tokens, or NFTs, and elsewhere in the already established digital crypto market backed by the Ethereum blockchain.
At the beginning of this week, ETH climbed levels never seen before in its price, exceeding 4.2K ETH/USD. But the fees are unbearable for a common "trader". (Vitalik Buterin and his millions should take them on)
With as many questions as fewer solutions, Berlin is now history and eyes are now pointing towards the EIP-1559, the London hard fork, scheduled for next July, which will have the responsibility of solving once and for all, among other things, the problems in ETH fees. (I've decided to save my Ethers for a bit longer). Experts predict a rally to $ 10,000 - $ 25,000 before the end of this year.
London will first have to resolve "the miners' strike" to consolidate the move towards ETH2.0
Thanks for joining me!