ETH Upgrade Gets Closer: Developers Conduct Big Data Experiment

ETH Upgrade Gets Closer: Ethereum developers are advancing preparations for the upcoming ETH upgrade with a big data experiment. According to Christine Kim's findings, Dankrad Feist conducted a big data experiment to assess the ability of the Ethereum mainnet to handle huge blocks.

After nearly two months when the Shapella upgrade went live, the Ethereum Foundation is already planning the network's next upgrade, known as Dencun. The main feature of Dencun is EIP-4844, also known as "Proto-Danksharding" or "The Surge," which is expected to significantly reduce transaction costs associated with Ethereum Layer 2 by multiple orders of magnitude.

Blobs will replace the current block space-intensive "call data" stored on-chain alongside transactions, which will reduce block space and improve Layer 2 throughput. The upgrade is expected to be a major boost to Layer 2 networks, which have emerged as the leading Ethereum scaling solution. While there is no timeline for when Dencun will be activated, Ethereum's core developers are in the final stages of planning.

In 2022, Ethereum co-founder Vitalik Buterin tweeted a technical FAQ for EIP-4844 – also known as "proto-dank sharding." This upgrade sets up the highly anticipated sharding upgrade for Ethereum, expected to launch in 2024. This upgrade aims to increase scalability by sharding data, a technique that partitions databases to enable platforms to process more transactions per second.

"EIP-4844 introduces a new kind of transaction type to Ethereum which accepts "blobs" of data to be persisted in the beacon-node for a short period." In any case, the dev team points out that the work going into EIP-4844 will offset future development burdens when it comes to implementing full sharding. "The core goal of rollup scaling stopgaps is to provide temporary scaling relief, without imposing extra development burdens on rollups to take advantage of this relief."

Ethereum Price Prediction

Like the rest of the market, Ethereum has had a tough time this year. Ethereum started the year bearishly and has been on a consistently mixed trend up to this point. When writing this article, Ethereum was trading at US$1.8k.

Unless there is an improvement in the global economy and inflation subsides, Ethereum could face significant resistance at $1500. However, if ETH can push through this resistance, then the odds are that it could easily trade at $2500 or more in 2023.

Ethereum Price Prediction 2024: This is the year for the next Bitcoin halving. As has happened during previous Bitcoin halvings, the Bitcoin halving could trigger another market-wide bull run. This could see Ethereum easily push through its all-time highs of $4800 and probably trade at $6000 or more by 2024.

Ethereum price prediction 2025: By 2025, Ethereum is expected to be widely accepted as a mode of contracts and NFT platforms by multiple businesses globally. This could see Ethereum test $10,000 by the end of 2025.