What EIP-1559 hard fork promises for Ethereum by Cointelegraph

Ether (ETHhas fallen recently, with the value of the top altcoin rising from $ 1,800 to as high as $ 2,480 since the beginning of April, showing growth of nearly 30%. This latest wave of monetary momentum comes after it has received a lot of criticism related increase network congestion and transaction costs.

To put it plainly, since the second half of February, the average cost of facilitating transactions on the Ethereum ecosystem has continued to fluctuate across the $ 16– $ 20 range, which leaves individuals wants to facilitate smaller transactions using the platform. In fact, on Feb. 23, the value of the aforementioned fee rose to an all-time high of $ 42, thus drawing outrage from the crypto community as a whole.