Ethereum on track for major upgrade amid infrastructure bill regulatory pressure

Ethereum (ETH-USD) climbs 14.2% in the past week as its London hard fork is set to activate on Thursday, which will upgrade the blockchain technology with five code changes including the Ethereum Improvement Proposals, CoinDesk repots. The hard fork process occurs when the blockchain cryptocurrency goes through a backwards-incompatible upgrade, according to the story. The most popular and largest proposal, EIP1559 will change Ethereum's fee market so that ETH spent on minimum transaction fees will get removed from circulation demand instead of being awarded to miners. An important supplement to the fee market change is EIP3198, which enables smart contracts to access the base fee of a given block based on the demand for blockspace; "it will be easier for wallets and users to estimate what the right price for their transaction should be, Tim Beiko said in an article." Meanwhile, Bitcoin (BTC-USD) declines 4.2% in the past week amid tension underlying the vague