Ethereum’s Dencun upgrade, which allows reducing gas fees in layer 2 solutions via proto-danksharding, has opened.Already in useon March 13 and caused applause and curiosity from various speculators.
“We don’t think this upgrade will have a significant impact on the price of ETH in the short term,” said Ruslan Lienkha, head of markets at crypto wallet provider YouHodler, “but we may notice an increase in activity on Blockchain and at the same time We expect the price of ETH to increase in the long term. Because the upgrade will ETH There is more value in the growing competition of innovative Layer 1 blockchain projects.”
Mara Schmiedt, CEO of Liquid Stake Development Company Alluvial, said the impact of the Dencun upgrade would be “in terms of institutional acceleration. Bitcoin That comes on the heels of the recent ETF market approval and the total value locked in Ethereum’s DeFi ecosystem is close to hitting the $100 billion mark. This scalability-focused upgrade is highly anticipated,” Schmiedt said.
Adding that “Ethereum faces scalability issues that act as a block to mainstream adoption. and support the increasing number of users and transactions.”
Onno Sterk, chief operating officer of crypto exchange OSL, considers Duncun’s upgrade not too significant. This is because it allows Ethereum to solve a major problem that has hampered the network’s development for years.
“The digital asset space is revolutionary. But it suffers from high transaction fees and limited scalability,” said Sterk. “These challenges not only stifle innovation, But it also limits the wider adoption of blockchain technology in various sectors,” he added.
“At its core, the Dencun upgrade is centered on proto-danksharding It is an innovative approach that aims to significantly reduce transaction fees. At the same time, it increases the processing speed of the network, which is a huge improvement. This is because it allows Ethereum to serve as a powerful database for other blockchains, facilitating a more efficient and interconnected digital asset ecosystem.”
refer : cointelegraph.com
picture twitter.com/Quantstamp
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