Ethereum Developers Unveils Next Upgrade After Pectra, Here’s All

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As a seasoned analyst with over two decades of experience in the crypto space, I find myself continually impressed by the relentless pace of innovation within the Ethereum ecosystem. The upcoming Fulu-Osaka (Fusaka) upgrade is yet another testament to this fact, and I am eagerly awaiting its implementation.

Developers working on Ethereum have suggested a fresh update named Fulu-Osaka. As per reports from Galaxy Research, this was discussed during the 140th conference call among all core developers – known as ACDC (All Core Developer Consensus Conference).

Fusaka, Pectra And Devnets 2 And 3

Alex Stokes, a researcher from the Ethereum Foundation, presided over the gathering. He guided the conversations about the progress of the eagerly anticipated Pectra enhancement, PeerDAS, and the labeling of the upcoming Ethereum consensus layer update. The proposed title for this upgrade is Fulu, inspired by a star in the Cassiopeia constellation but abbreviated as Fusaka.

Significant to mention, this update follows Electra and its name isn’t unusual since consensus layer upgrades are typically named after significant stars. On Pectra, Stokes announced a fresh specifications release for the upgrade, labeled as v1.5.0-alpha.5. He encouraged client teams to carefully examine the new version.

Regarding the Pectra Devnets, Parithosh Jayanthi, an Engineer in Developer Operations at the Ethereum Foundation, pointed out that the Geth client has recently created a few faulty blocks on Pectra Devnet 2. Developers are currently looking into this issue. Meanwhile, Stokes shared their intentions to initiate Pectra Devnet 3 within the upcoming week.

The latest modification to EIP 2935 involves storing historical block hashes within the state, a change developers are planning to implement in Devnet 3. This update is primarily a semantic shift and should not disrupt client implementations significantly. It’s also important to mention that these advancements are propelling Ethereum towards more commercial applications. Notably, Ripple Labs have recently minted some RLUSD stablecoin on the Ethereum network.

Other Milestones in the Ethereum Ecosystem

Meanwhile, the Ethereum ecosystem recently welcomed a new public blockchain. Sony Group launched Soneium. This protocol is its L2 outfit with backing from Startale. The public Ethereum layer 2 blockchain is built on Optimism’s OP Stack and has support from Astar Network, Alchemy, Chainlink, Circle, Optimism, and The Graph. These testnet will be launched in the near future.

Regarding Ethereum-based ETFs, they’re yet to carve out a significant niche within the market. Some believe they could potentially take a slice of the pie from Bitcoin ETFs. At present, though, that’s not happening.

Vitalik Buterin, one of Ethereum’s co-founders, has expressed confidence that Ethereum’s underlying foundations are stronger than ever before. This statement was made in light of certain speculations suggesting a daily weakening of the Ethereum ecosystem. Furthermore, he acknowledged the efforts of the L2 network Optimism for their role in standardizing the transfer of assets within the Ethereum system.

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2024-08-23 19:57