News A hotly awaited upgrade to the Ethereum network that may result in ETH becoming a deflationary asset is now scheduled for the “London” hard fork in July. Ethereum lead developer Tim Beiko previously teased that the decision would be made today two weeks ago, and proposed the inclusion on the Core Developers call today. There were no verbal objections. “We’re in a spot where the EIP is sound,” said Beiko on the call. “[...] We’re in a spot, I think, where it’s ready to be included in an upgrade.” The proposal, co-authored by Ethereum cofounder Vitalik Buterin, will transition Ethereum’s fee structure away from a bidding system that allows miners to prioritize the highest bids. The new fee structure will dynamically and programmatically adjust fees so users only pay the lowest bid for each block.