#EthereumFuture Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). Its native cryptocurrency is Ether (ETH). Here's a look at the future of Ethereum:
Key developments and updates:
The Merge (completed in September 2022): This significant update transformed Ethereum from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) mechanism, drastically reducing its energy consumption by approximately 99.95% and improving security.
Shanghai/Capella Update (2023): This update allowed for the withdrawal of staked ETH, increasing flexibility for validators.
Dencun Update (recently implemented): A key aspect of this update is EIP-4844, also known as proto-danksharding, which aims to reduce gas fees for Layer 2 (L2) transactions, making the network more affordable for rollup users.
