Does The Fusaka Upgrade Put A Floor On Ethereum Prices?
The new Fusaka upgrade to Ethereum (Crypto: ETH) seems to be loved by developers who use the world’s leading blockchain, and traditional finance, which is increasingly warming up to it.
Crypto currency investors view Fusaka as a strategic milestone for Ethereum. Fidelity Digital Assets calls Fusaka “the most compelling upgrade in years,” marking a “strategic and economic turning point” for Ethereum.
VanEck‘s crypto research said in a note on Oct. 3 that Fusaka’s role in scaling Ethereum’s ecosystem was “entering its next phase. The Fusaka upgrade…is designed to relieve one of the network’s most pressing bottlenecks: data availability for rollups.”
Rollups are faster, cheaper “mini-blockchains” built on top of Ethereum. They bundle transactions together and settle them securely on the main blockchain, in this case — the Ethereum blockchain.
Developers like the upgrade, which is an important signal to Ethereum investors. If developers are not happy, investors will sell in favor of the alternatives.
“Fusaka represents meaningful progress toward Ethereum’s giga-gas future, pushing the gas limit from 45 million to 60 million (units of computation),” said Mo Dong, a computer scientist PhD from the University of Illinois Urbana‑Champaign and current CEO and Co-Founder of Brevis. “As throughput scales, zkVMs (zero knowledge virtual machines) become essential infrastructure,” he said. Brevis is a zero-knowledge (ZK) data-proof and computation platform.
A zero knowledge virtual machine is a computer system that verifies if actions on the system executed a set of instructions correctly. It basically allows developers to take a set of computer codes and prove that …
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