A new software update for Ethereum, the second-largest blockchain network, will likely stabilize transaction fees and cut down on the supply of the tokens, according to Reuters.
Ether was trading lower prior to the news but gained afterward and was up 2.6 percent to $2,796, Reuters reported.
The adjustment is called the Ethereum Improvement Proposal (EIP) 1559. It entails changing how transactions are processed on Ethereum by offering more transparent pricing for transaction fees in ether…
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