Ethereum underwent an upgrade on Thursday, bringing with it a number of alterations to the network's blockchain. CEO and founder of MyEtherWallet, Kosala Hemchandra, pointed toward 2 changes of particular importance.

"The London upgrade adds around five changes to the current Ethereum network; withal, I believe that only 2 of them are crucial to mean solar day-to-day users," Hemchandra said in comments sent to Cointelegraph. Noting "time bomb delay" as the first of the two, he added:

"Since the inception of Ethereum in that location was a hard coded value basically responsible to make sure Ethereum will movement to PoS or ETH 2.0 on time. This value is responsible for making the block difficulty exponentially difficult after a sure block number thus making it impossible for miners to mine new blocks and they accept to motility to ETH 2 network. However, because of development delays this time bomb kept getting delayed and in the London fork, it'll be postponed one last fourth dimension."

Ethereum has suffered scalability issues in contempo years, particularly axiomatic in the loftier fees present when using decentralized finance, or DeFi, solutions. A long time in the making, Ethereum 2.0, or Eth2, looks to bring scalability to the Ethereum blockchain, which includes shifting to a proof-of-stake, or PoS, consensus mechanism. Eth2's roadmap officially kicked off in December 2022.

Ethereum's recent London hard fork included v Ethereum Improvement Proposals (EIPs). One of those proposals, EIP-1559, seeks to giv the blockchain a deflationary result on its native asset, Ether (ETH). Hemchandra noted EIP-1559 as the second important change brought by the London hard fork.

"EIP 1559 is the highly debated alter which, in essence, changes the structure of how Ethereum tx fees are handled," he said, adding:

"This will bring a couple of major changes, such as burning the transaction fee, which will reduce the increase of overall ETH in circulation. Withal, since miners will no longer receive the tx fees as an incentive this change was highly debated. This change also brings a tipping machinery to tip the miners for including your tx, and this tip will go directly to the miner and will not be burned."