When will Ethereum EIP 1559 be released?

However, based on the Ethereum EIP 1559 proposition Github thread, official Ethereum thread on EIP 1559, and other clues on the web, we can expect the Ethereum EIP 1559 later than July 2021 because of potential miners' revolt which could postpone the release date. I would not be surprised if it happens after ETH 2.0 launch.

When will eip-1559 be released?

The current date for EIP-1559's release is set for August 5, 2021. Specifically, the update will occur at block 12,965,000, expected to take place at 11:55 AM UTC/12:55 PM BST/7:55 AM ET/4:55 AM PT. From 11:45 AM UTC, Binance has announced it will temporarily suspend ETH and ERC-20 token withdrawals and deposits until after the hard fork occurs.

Should I upgrade to EIP 1559?

However, because EIP 1559 would lower the amount of fees that go to miners as the fees is not directly been paid by the user, but would now be issued by the network; in other words, the network determines what tip (or reward) to give miners majority of miners would not accept this upgrade.

Will EIP 1559 destroy ether coins?

A major ethereum network upgrade, codenamed EIP-1559, is due on Thursday. The change has excited some investors, as it will start to destroy or "burn" ether coins. Insider breaks down four things you need to know about the upgrade. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily.