Major Ethereum Upgrade Scheduled for December

The world’s largest Ethereum treasury firm, Bitmine, confirmed on Wednesday, November 12, the launch of the next major network upgrade for Ethereum. While this has been long anticipated, the Ethereum Fusaka upgrade will mark a significant milestone for the network, serving as proof that Ethereum can evolve without compromising decentralization.

The Ethereum Fusaka upgrade is scheduled to roll out in early December. This was initially announced on the official Ethereum X handle, sparking discussions and excitement across the crypto community. Investors and Ethereum holders celebrated the news, leading to renewed optimism about Ethereum’s future and projecting a long-term bullish outlook for the cryptocurrency.

Despite being the second-largest cryptocurrency by market capitalization, Ethereum has continued to evolve. The Fusaka upgrade follows the recent Pectra update and focuses on enhancing Ethereum’s scalability, security, and overall user experience, all while maintaining decentralization. According to the official Ethereum page, the name “Fusaka” comes from a combination of upgrades to Ethereum’s core layers, specifically Fulu and Osaka.

The Ethereum Fusaka upgrade aims to address various challenges in the network, including enhancing scaling architecture, lowering fees for Layer 2 networks, and reducing hardware and bandwidth requirements for node operators. Currently, Layer 2 networks like Arbitrum, Optimism, and Base post transaction data to Ethereum using blobs, a temporary and low-cost data structure. However, downloading and verifying all blob data becomes highly resource-intensive as the usage of Layer 2 networks expands.

The Fusaka upgrade offers a solution to address the growing resource demands. It introduces a mechanism to distribute blob data uniformly across the network, allowing nodes to store only a random 1/8th of blob data, instead of requiring every node to store everything. This significantly enhances the efficiency and sustainability of the Ethereum network.

Following the December launch of the Fusaka upgrade, the Ethereum community is anticipating a major price movement for Ethereum. The upgrade is viewed as a catalyst for wider adoption and better network efficiency, positioning Ethereum for further advancements and long-term growth in the cryptocurrency market.