As we celebrate Thanksgiving, it’s a good time to reflect on what inspires gratitude, and for the cashless community, Ethereum is naturally the star.
In the past year, #Ethereum has made significant new strides, from upgrading to Level 2 service to solidifying its role in mainstream finance.
But beyond its technological and economic potential, what really sets Ethereum apart is its vision for moving Ethereum forward and its passion for making that vision a reality.
In 2024/3, Ethereum introduced the dencun update and implemented proto-danksharding (EIP-4844), revolutionizing scalability. The main elements of this innovation are
a drop.
A new transaction type that allows the L2 network to place packet data into Ethereum for a fraction of the previous cost.what is the result? Since then, transaction fees on the L2 network have dropped dramatically, and on some networks by as much as 99%. This significant cost reduction has opened the door to a wide range of users and applications, from DeFi to online gaming. As a result, Ethereum’s vision of a truly affordable decentralized future seems closer than ever.Not stopping there after the Dencun update, the Ethereum community has already made significant progress on the next major development, Pectra. Pectra will be the largest update in Ethereum’s history and will launch in early 2025. It implements a wide range of Ethereum enhancement proposals (Eip) to improve scalability, performance and user experience on the network.For example, eip-2537 improves validator efficiency and reduces gas costs, while EIP-7594 implements Peer Data Availability Sampling (PeerDAS) to further optimize the data experience on L2. It introduces a new transaction type that allows a regular Ethereum account to temporarily become a smart contract wallet.This diverse update facilitated the new phase of Ethereum’s roadmap to expand the OG smart contracts platform to more than 100,000 transactions per second, and a lot of work has been done on this in recent months.
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