10.27 Daily Outlook, today we will talk about Ethereum Cancun.
I saw an unfriendly message this morning. The Dencun upgrade, which was originally scheduled to be carried out this year, now seems to be very likely to be postponed. According to the developer meeting, the test upgrade phase has been plagued by consensus issues, and the launch time of Ethereum's Holesky test network is also later than planned, so it is very difficult to complete the implementation of the Cancun upgrade before the end of 2023.
With such negative news coming out at a time when the overall market and sentiment are rarely warming up, there is no doubt that Ethereum must have encountered some technical difficulties. It has been a long time since Ethereum has been labeled as a pigeon king, which makes people feel a little PTSD.
But then again, it is not new for Ethereum to have some problems when promoting core functions since its birth. The famous ETH2.0 was delayed again and again, spanning half of the bull-bear cycle, which once made many people collapse. Other hard forks of different sizes have also been delayed in various ways. Fortunately, all the ups and downs were finally overcome, especially for Ethereum now, some of its most critical milestones have been completed, such as EIP1559 that can make ETH burn, and the conversion to POS that changes the inflation mechanism, etc. Therefore, whether the Cancun upgrade is postponed or not, the impact on the overall ecology is controllable, so it is not surprising. In contrast, for the L2 sector that hopes to take advantage of the Cancun opportunity to hype and wave, the negative nature may be more direct.
