Ethereum activated London hard fork change News Today
Today the days of Ethereum activated London hard fork change .Ether mining were already numbered but the deadline just got way way closer plus target hopes to bring in new workers by paying their college tuition and finally president Biden announced a brand new ev initiative and he skipped right over tesla i’m pippa stevens and after hours stocks bounced back from Wednesday’s sell-off with the dow and Nasdaq both .
Gaining about three quarters of one percent the s p rose over half a percent to reach another record high crypto also had a strong day with bitcoin jumping back over forty thousand dollars and ether climbed as much as four percent ether’s gains are linked to a
major upgrade to the ethereum blockchain that launched today and that’s dubbed the london hard fork the upgrade promises many new changes to the cryptocurrency including making it more stable.
- WHY ETHEREUM IS CHANGE TO LONDON HARD FORK.
It also moves up the timeline for big changes to the way ether gets mined cnbc.com tech reporter mackenzie sagalos explains ethereum’s much hyped and somewhat controversial london hard fork activated on thursday morning now for years the blockchain has struggled with scaling along with highly unpredictable and sometimes exorbitant transaction fees this upgrade is designed to fix
all of that if you think of Ethereum like a highway the london hard fork adds a few lanes to tamp down traffic and it standardizes toll prices so let’s start with what’s happening to transaction fees something called gas prices in the world of ethereum before the upgrade there was no standard gas price users would participate in a closed bid auction where they guested how much would be
enough for a miner to accept them into the next block of transactions post upgrade what happens now is that ethereum’s protocol algorithmically decides the transaction fee based upon overall demand on the network the upgrade also doubles the block size
making the block size dynamic so that it can accommodate fluctuations in demand is what ultimately stabilizes the base fee one of the other upgrades to the code that’s getting less attention is something called Ethereum improvement proposal 3554 it’s related to ethereum 2.0.
which would have the network switch from the energy intensive proof of work mining system to proof of stake which just requires users to leverage their existing cache of ether as a means to verify transactions and mint new tokens once the protocol migrates to proof of stake the entire industry around ethereum mining as it exists today will no longer be relevant what eip 3554
does is it takes an important deadline that will encourage ethereum miners to upgrade their software to prepare for the switch and it moves that deadline from summer of 2022 to this december okay time for today’s numbers round we’ll start with 40. target has a
new incentive for prospective employees the company announced it will pay all tuition and textbook costs for workers to attend certain undergraduate programs at more than 40 different institutions.
If you’re looking to get your master’s well the company will pay up to 10 000 a year for that too next 98 million robin hood’s stock has mounted an impressive turnaround following last week’s disappointing ipo now some investors want to offload shares robin hood told the sec that some of its shareholders will sell about 98 million shares of the company many of these investors came to
robin hood’s rescue at the start of the year when the company needed those funds during the meme stock frenzy and finally 50. on tuesday we told you about the challenges to driving an electric vehicle on a road trip today the white house announced it wants to make those road trips easier biden is aiming for 50 percent of new car sold to be electric by 2030. that requires significant
investments in charging infrastructure and manufacturing to meet that goal the white house made the announcement at an event alongside major car companies like ford and general motors one notable absentee was tesla transportation secretary pete butterjudge told cnbc this morning that he’s quote not sure why the company was left out you can watch that entire interview and read all about biden’s new