The Berlin hard fork was scheduled to start once the network processed block #12,244,000, implementing 4 Ethereum Improvement Proposals (EIPs) designed to improve the efficacy of the network and reduce gas costs at a time when saturation is becoming an increasing issue.
The 4 EIPs introduced with the latest hard fork are EIP-2565: ModExp Gas Cost, EIP-2929: Gas cost increases for state access opcodes, EIP-2718: Typed Transaction Envelope, and EIP-2930: Optional access lists.
These proposals aim to lower gas costs to bring them in line with the cost of executing other operations, introduce a new transaction type that operates as an envelope for multiple transaction types, gas cost increases for certain states to mitigate DoS attack vectors, and fix breaking changes to existing contracts, respectively.
Named after the city where Devcon 0 took place, the Berlin upgrade has been one of the most anticipated hard forks in recent months, especially due to the chance that EIP-1559 had of being released with the fork.
EIP-1559 was highly controversial among the Ethereum community as it proposed the burning of fees set by the network to reduce ETH supply.
ETH Reaches New All-time High
As the uptrend in the cryptocurrency market continues, Ether has seen increasing popularity and value over the past months by breaking all-time high after all-time high, with the latest taking place on April 16th as the coin reached a value of $2,544.30.
Some of the factors behind the uptrend have been the increasing popularity of Bitcoin and the cryptocurrency market in general among institutional investors and personalities which has resulted in increased coverage by mainstream media, as well as important milestones like Coinbase’s listing in Nasdaq.
According to experts, it seems that most investors have…