On August 5th, 2021, the London upgrade was activated on the Ethereum mainnet at the block height of 12,965,000. The upgrade introduced EIP-1559 to change how Ethereum transaction fees are calculated and where those fees go.
Before the London hard fork, gas fees were calculated via an auction mechanism leading to high volatility. With EIP-1559, the gas calculation is more stable by adjusting the block size dynamically.
Cited from: Releasing imToken v2.9.8 | Now with EIP-1559
As a professional hardware wallet, imKey has been committed to users’ asset security. Today, we are very pleased to announce that imKey now supports EIP-1559. With the 2.9.8 version of imToken or above, you can send EIP-1559 transactions through imKey to trade effortlessly in a reliable way.
More successful transactions: Thanks to EIP-1559’s more accurate gas fee prediction, you will rarely have transactions stuck, like in the old days
Less overpaid transactions: Less spikes in gas prices mean no more waiting for picking the right time to send a transaction
Customizable: Simply set your transaction speed, or customize MaxFee, MaxPriorityFee and Gas in the custom settings
Cited from: Releasing imToken v2.9.8 | Now with EIP-1559
Credit: imToken
How to update your imKey to send EIP-1559 transactions?
1. Turn on imKey and please make sure that it has been paired with imToken.
2. Update imToken to the latest version.
P.S. You can contact imToken via support@token.im if you meet any problems when updating the wallet App.
3. Open imToken and click “My Profile” - “Manage your wallet” - “Manage”.
4. On the “imKey Management” page, click “App settings” - “Update”.
5. You can send EIP-1559 transactions through your ETH wallet after “Installed” is displayed on the right side of ETH.
Tips
1. Before the upgrade, please make sure that all wallets have been backed up properly.
2. Don’t share your private key, mnemonic, or keystore with others.
3. Check out our Help Center at https://support.imkey.im/