the staff of te Ridgewood blog
Ridgewoood NJ, Ethereum’s London hard fork has been activated. The network will now algorithmically decide the transaction fee based on the overall demand on the network. Users will still be able to jump the queue by tipping. Another change in the code will double the block size to smooth out spikes in demand and to help gas fees stay stable. While there will be twice the number of blocks, the upgrade has been designed so that the protocol only wants the blocks to be half full. The London fork also paves the way for Ethereum 2.0, which will see the network switch from the proof-of-work mining system to proof-of-stake.