London, the most anticipated update by the Ethereum crypto community, may delay its arrival for a couple more weeks, according to developer Tim Beiko's proposal.
The long-awaited update of EthereumCalled London, may not arrive in the middle of this month as initially believed. Tim Beiko, Ethereum developer, noted that the new date for the launch of the hard fork London is due to be released on August 4th, two weeks after the planned release date this month.
On his Twitter account, Beiko explained that the main developers of the network have proposed London is expected to go live on Ethereum block 12.965.000, which will occur around August 4th.
Beiko noted that the crypto community may object to the developers' proposal, although it is not final and only part of the need to provide enough time to announce new versions of clients that are compatible with the mainnet, and to allow infrastructure providers and node operators to properly update.
So, this is mostly a precautionary measure. Specifically, the Ethereum development team noted that the launch would be delayed a few days if any of the network's clients experience any issues and indicate that they are not ready for the upgrade on the Ethereum mainnet.
London has started to be implemented on Ethereum testnets, ropsten, Goerly y Rinkeby on June 24. The update would be tested on each of the Ethereum testnets, and if its implementation was entirely successful on each testnet, then it would reach the Ethereum mainnet in the middle of this month.
It may interest you: Ethereum's London upgrade now has an arrival date on testnets
ETH price recovers
The arrival of London on the Ethereum mainnet, which is getting closer and closer to happening, has once again sparked interest among investors and the crypto community in general in the cryptocurrency. The price of ether surpassed $2.380 per unit recently, showing a recovery of almost 17% in the last week.
Source: CoinMarketCap
Although the growth in the value of ether reveals the interest of investors in this cryptocurrency, which is just days away from introducing one of the most important improvement proposals for the network so far, the EIP-1559, analysts point out that some investors are still very cautious, due to the volatility that crypto markets are currently experiencing due to the strong regulations that China directs against cryptocurrencies and digital assets.
However, the general sentiment in the crypto community is that the activation of London will have a positive effect on the value of ether, as EIP-1559 will not only reduce network gas fees but also make ETH a scarcer asset on the markets, reducing the amount of cryptocurrencies currently in circulation.
The price of Bitcoin, the market-leading cryptocurrency and the one most attacked by China so far, has grown only 2% against Ethereum, reaching a value of $34.600 per unit, at the time of this writing.
Continue reading: The arrival of London is approaching, the hard fork that will reduce Ethereum fees
