- The Ethereum London Hard Fork, implemented in August 2021, was a significant upgrade that introduced several changes to the Ethereum blockchain, enhancing its functionality and addressing critical issues such as transaction fees and network efficiency. 

- This hard fork was a part of Ethereum's ongoing evolution, aiming to transition from a proof-of-work consensus mechanism to a proof-of-stake model.

-  By incorporating EIP-1559, the upgrade fundamentally altered Ethereum's fee structure, which has had profound implications for users and developers alike. 

The London fork implements five Ethereum Improvement Proposals (EIPs) that alter core components like gas fee calculations, block limits, and mining rewards.

Here is a breakdown of what each proposal achieves:

1. EIP-1559: Introduces a “base fee” for transactions that automatically adjusts based on network demand. Users also add an optional tip to prioritise their transactions. This improves the predictability of gas fees.

2. EIP-3198: Makes gas pricing increments more granular. Fees can change after smaller block count thresholds.

3. EIP-3529: Reduces smart contract gas usage refunds, improving blockspace efficiency. 

4. EIP-3554: Delays the “difficulty bomb” by 1.5 years. This difficulty bomb slowly increases mining difficulty to discourage proof-of-work mining eventually. Delaying it maintains the status quo.

5. EIP-3541: Prevents smart contracts from paying mining fees. Saves costs for applications.

- The number of transactions per second increased dramatically post the upgrade.

-  With the updated version, miners can not receive income from transaction fees. Reduced supply due to this reason gave an uplift to the Ethereum currency.

-  Blockchain users can easily presume the transaction fees. Certainty of transaction fees is a big benefit for small investors and those who trade often.

- The reduced costs will tend to attract more investors. This will let the price increase in the long term.

- One of the parts of the London hard fork, EIP-1559, is aimed at boosting the speed and improving incentivization for mining of Ethereum