Ethereum's highly anticipated London hard fork has gone live, marking a major milestone for the world's second-largest cryptocurrency. The upgrade, which was activated on August 5th, introduces a number of changes to the Ethereum network, including a new fee structure and a reduction in the rate at which new Ether tokens are created.

One of the most significant changes introduced by the London hard fork is the implementation of EIP-1559, which changes the way transaction fees are calculated on the Ethereum network. The new fee structure is designed to make transactions more predictable and less expensive for users, while also burning a portion of the transaction fees, which could potentially reduce Ether's supply over time.

The London hard fork has been in development for several months and has been widely anticipated by the Ethereum community. The upgrade is seen as a critical step towards Ethereum 2.0, which will introduce a number of additional changes to the network, including a shift from proof-of-work to proof-of-stake consensus.

While the London hard fork has been largely successful so far, some users have reported issues with certain applications and services on the Ethereum network. Ethereum developers are working to address these issues and ensure a smooth transition to the new upgrade.