Recently, the Fusaka upgrade has been scheduled for early November, just before the opening of this year's Devconnect in Argentina. As in the past, Fusaka remains a portmanteau, derived from Fulu Star (附路星) + Osaka (大阪), where the former is a star in the constellation Cassiopeia, and the latter commemorates the ETH Devcon held in Osaka in 2019.
Ethereum has seen frequent updates over the past year or two, so the current updates are not as significant as previous ones like the Shanghai upgrade or the London upgrade, but they are still worth paying attention to.
Therefore, we have selected some important EIPs from this update to share with everyone:
[L2 Related]
EIP-7594 PeerDAS
One of the great dreams of Ethereum is to easily and painlessly run hundreds or thousands of L2s (the full version of Danksharding), and the underlying idea of the L2 we are using now is these blobs, which are actually just the initial stage of L2 (i.e., EIP-4844 proto-Danksharding, a lower version).
This time, PeerDAS is a sampling method that allows for the validation of L2 transactions by downloading only part of the data. It is one of the most critical steps for ETH towards a fully functional L2.
Although it is not directly related to ordinary users, you can expect L2 to become safer and cheaper in the future. It can expand the blob capacity up to 10 times while reducing the requirements on individual nodes.
EIP-7892 is limited to Blob parameter hard forks
I don't know if you've noticed that the recent upgrades are all around L2 and the blob area used for storing data. Since there have been too many fragmented upgrades, this time we simply add a proposal: in future forks, it allows Ethereum to enable lightweight, parameter-only blob upgrades without a complete protocol upgrade.
[L1 Related]
EIP-7825 and EIP-7934 block size and transaction gas fee cap
To prevent DDoS attacks—the maximum block is set to 10mb, and the maximum single transaction is no more than 16.7m gas. However, this is not much related to ordinary users.
EIP-7917 determines the block producer in advance
Pre-calculate several epochs' block proposers to enhance the collaboration capabilities of validators, layer 2 network ordering, and staking operations, while also improving the predictability of the network. In simple terms, it mainly benefits the MEV trap-related industrial chain.
There is also a textual EIP, EIP-7935.
EIP-7935: Set the default Gas limit to XX0M
The current mainstream gas fee cap on the ETH mainnet is 36M. After the release of Fusaka, future gas caps should end with 0, i.e., XX0M, such as 60M, 150M.
The block gas fee cap can basically be understood as the block size of Ethereum, which can be directly linked to TPS.
Moreover, adjusting it does not require a hard fork; it is more about miner voting behavior. So, even though this EIP is textual, we believe it is paving the way for a 150M gas cap.
If Ethereum fully upgrades to the 150M era, then at least the TPS of the Ethereum mainnet needs to increase by 4-5 times compared to now. This textual EIP is actually the most intuitive for users.
Ethereum is currently in a bull market, with mainnet gas around 0.1 USD, and after increasing the gas cap, it is actually hopeful that future mainnet fees could drop to the 0.01 USD range.
There are also some minor EIPs that I estimate everyone is not too concerned about, so I won't elaborate further.
Finally, as you can see, in the recent upgrades, Ethereum is currently focusing at least 3/4 of its energy on developing L2, indicating that the L2 strategy remains a long-term strategy. We look forward to the day when thousands of L2s fly together.
This content is jointly published by Nothing Research, Ebunker, and Ourbit.
