Ethereum (ETH) will receive a major update in early December that should significantly improve the performance of the network. The Fusaka upgrade introduces new technology that makes transactions faster and cheaper. According to founder Vitalik Buterin, this move brings Ethereum closer to global scalability.
Ethereum will receive the Fusaka upgrade on December 3
On December 3, Ethereum will launch a major network upgrade called Fusaka, which was decided in a recent meeting between developers. The Fusaka upgrade comes after months of testing and was previously successfully rolled out in various testnets called Holesky, Sepolia and Hoodi. Now the launch on the mainnet is planned, taking Ethereum into a new phase of scalability.
The update introduces PeerDAS, an innovative technology that makes the processing of layer 2 transactions faster and cheaper. Layer-2 networks are solutions that run on top of Ethereum and process large volumes of transactions alongside the main chain, reducing costs and pressure on the network.
PeerDAS stands for ‘peer-to-peer data availability sampling’. The technology ensures that Ethereum nodes, the computers that keep the network running, no longer have to store all data, but only part of it. According to founder Vitalik Buterin, this technique is “the key to layer-2 scaling” and Fusaka brings Ethereum closer to the goal of becoming an efficient and cheap transaction network worldwide.
More than speed: also safety and flexibility
Fusaka not only provides more speed, but also makes Ethereum more secure. Large or complicated transactions will be limited from December so that they do not slow down or overload the network. Ethereum wants to better protect itself against attacks and disruptions.
Developers also get new tools, such as additional features and better support for commonly used security standards, such as the popular cryptographic standard P-256. Users will especially benefit from a new feature that shows when their transaction is likely to be processed. That creates less uncertainty.
ETH price falls back
Despite the positive news, the ETH price is under pressure. The digital currency has fallen 3.2 percent over the past week and is currently trading below the key resistance level of $4,000.
According to analyst Ted, the technical picture looks weak. Based on his chart analysis, he states that an upward move will only become serious if ETH convincingly closes above $4,000 again. As long as this does not happen, the chance of a further decline remains. In that case, a pullback towards $3,500 is likely.
Source: https://newsbit.nl/nieuwe-ethereum-upgrade-komt-eraan-echt-een-groot-ding/
