Gate.io Has Completed the Upgrade of Ethereum London Hard Fork and Opened up ETH-ERC20 Deposit and Withdrawal Service

Announcements Gate.io Has Completed the Upgrade of Ethereum London Hard Fork and Opened up ETH-ERC20 Deposit and Withdrawal Service

2021-08-05 16:03:45 UTC 89456 Read

Gate.io has successfully completed the Ethernet London upgrade. This upgrade brings an important EIP-1559 proposal to the Ethernet network, implementing a new GAS rate model, in which every network transfer fee will have a base fee (Base fee) be destroyed, and the upgraded network destruction has already started. According to the current rate, it is estimated that millions of ETH will be destroyed every year. Gate.io has observed that the upgraded ethereum network is stable and no blockchain fork has been detected, so we have resumed ETH and ERC20 deposit and withdrawal services. Users who are not in a hurry to withdraw cash are recommended to wait for the network GAS fee to be reduced before withdrawing cash, which can save the withdrawal fee.

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Gate.io Team

August 6, 2021

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