Ethereum’s London hardfork will go live on testnets beginning from June 24th.
The hardfork change to the Ethereum network protocol is designed to make the platform more scalable, and also effect new rules and changes
Some of these changes include: reduced gas fee, a new rule that prevents block withholding, and updating mining difficulty every 5 minutes.
“As of now, only the testnets (Ropsten, Goerli, Rinkeby) have been scheduled for London. Once the upgrade has successfully been activated on these networks, a block will be set for the Ethereum mainnet and be communicated on this blog and in other venues,” Tim Beiko, an Ethereum core developer wrote in a blog post.
The Ethereum development team expects the update to be finalised within 3 months.
Miners revenue may be negatively affected by more than 50%.