Ethereum Prepares for Major Network Update “Fusaka”
Following the successful completion of the Pectra update last week, Ethereum has begun preparations for its next major network update, “Fusaka.” Pectra attracted attention as the biggest code change to come to Ethereum since the “Merge” in 2022. Following this update, which aims to facilitate institutional staking transactions, increase wallet accessibility and improve transaction efficiency, all eyes are now on Fusaka.
One of Fusaka’s most notable components is the Ethereum Improvement Proposal (EIP) called “PeerDAS.” PeerDAS aims to more efficiently manage the large blocks of data (blobs) needed by the growing layer-2 ecosystem on the Ethereum network. The “blob” structure, which stores transaction data on the blockchain off-chain, was first introduced with the Dencun update. This structure reduces transaction density on the Ethereum network, while also reducing gas (transaction) fees. Layer-2 solutions such as Arbitrum, Optimism, and Coinbase’s Base network can offer faster and lower-cost transactions thanks to this system.
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Prominent Founder Reignites Old Debate After Recent Surge: Says Ethereum Will Surpass Bitcoin. PeerDAS technology allows validators to verify the authenticity of data on the network by downloading only a portion of these large blocks of data, which can significantly reduce transaction costs for both validators and layer-2 networks. Parithosh Jayanti, a developer at the ETH Foundation, said in a statement, “PeerDAS is very important because we want to support the scaling of layer-2 solutions. With this system, we can increase the blob limit significantly.”
The Fusaka update is planned to be implemented by the end of 2025. The timing of this update, which is expected to include many new features in addition to PeerDAS, is being cautious. Ethereum developers previously planned the Pectra update for the end of 2024, but postponed it to May 2025 due to various testing issues. Delays and slow development have led to increasing criticism of Ethereum developers.
*This is not investment advice.