imKey supports EIP-1559

imKey supports EIP-1559

After waiting for the ETH status to show "Installed", you can enter the ETH wallet and experience EIP-1559 type transactions.

On August 5th, 2021, when the Ethereum block height reached 12,965,000, Ethereum officially launched the London upgrade, which changed its miner fee pricing mechanism by introducing EIP-1559.

Before the London upgrade, Ethereum's miner fee used a first-price auction mechanism, which was simple but lacked efficiency, with the biggest problem being fee estimation. EIP-1559 allows users and developers to estimate operation fees easily through the "base fee + tip" model, reducing actual miner fee consumption and improving transaction efficiency.

Quoted from the imToken 2.9.8 version announcement

As a professional hardware wallet, imKey has always been guarding the security of users' assets steadily while constantly updating and iterating, hoping to provide users with a better trading experience. Today, we are pleased to announce that imKey has supported EIP-1559. With imToken 2.9.8, you can use imKey to send EIP-1559 type transactions and experience reliable and convenient new transaction features:

Accurate: According to the EIP-1559 mechanism, the default miner fee will be an interval rather than a specific value.

Convenient: The miner fee level is still divided into three levels, and different levels correspond to different transaction confirmation times, allowing users to choose according to their needs.

Customizable: For experienced users, the custom function can still be used to set MaxFee, MaxPriorityFee, and Gas.

Quoted from the imToken 2.9.8 version announcement

How to upgrade imKey to send EIP-1559 type transactions?

1. Open imKey and confirm that it is bound to imToken.

2. Update imToken to version 2.9.8 or higher.

For Android users, you can download the update from the imToken official website. For iOS users, you need to log in to the App Store to download. Note: imToken is not available on the App Store in mainland China.

P.S. If you encounter any download issues, please contact imToken customer service through support@token.im.

3. Open imToken, click "Me" - "Manage Wallet" - "Manage".

4. Enter the "imKey Management" page, click "Application Management" - "Update".

5. After waiting for the ETH status to show "Installed", you can enter the ETH wallet and experience EIP-1559 type transactions.

Note:

1. Please make sure all wallets are properly backed up before upgrading.

2. Do not disclose your private key, mnemonic phrase, or keystore to anyone.

3. Read the help center at https://support.imkey.im/.