$ETH Ethereum Cancun Update: Pros, Cons, and Its Impact on the Network
On March 13, 2024, Ethereum implemented the Cancun update, one of the most anticipated in its evolution towards a more scalable, secure, and efficient network. This update introduces proto-danksharding, a technique that improves data storage and reduces transaction costs, especially for Layer 2 solutions such as Optimism and Arbitrum.
Pros of the Cancun update
Lower transaction costs: By optimizing data storage, rollups will be cheaper to operate.
Greater scalability: Ethereum will be able to process more transactions without congestion.
Better user experience: Decentralized applications (DApps) will operate more smoothly.
Cons and challenges
Impact on smart contracts: Some contracts may require adjustments to adapt to changes in storage.
Competition with other blockchains: Ethereum still faces challenges against faster networks like Solana.
Overall, Cancun strengthens Ethereum's position as a leader in blockchain, but its success will depend on the adoption of its improvements by developers and users.
