The Ethereum London hard fork is a proposed update to the Ethereum network that would see the network move to a new proof-of-stake consensus algorithm. The fork is being developed by the Ethereum Foundation and is scheduled to occur in late-2019.
The primary goal of the fork is to improve the scalability of the Ethereum network. The current proof-of-work consensus algorithm used by Ethereum is not well suited for large-scale applications.
The move to proof-of-stake will allow the network to handle more transactions per second and be more responsive to user needs.
In addition to improving scalability, the fork will also introduce new features and improvements to the Ethereum network. These include support for smart contracts, improved security, and increased flexibility.
The fork is being designed to be compatible with existing Ethereum applications and wallets. This means that users will not need to take any action in order to continue using their applications after the fork occurs.
The hard fork is an important milestone for the Ethereum project and will help make it a more viable platform for large-scale applications.