Hello everyone, I know youāve been keeping an eye on Ethereumās Cancun upgrade. š§So, what exactly is it? How will this upgrade affect our blockchain world? Most importantly, which projects will it benefit? Letās dive in together. šµļøāāļø
1ļøā£ What is the Cancun Upgrade?
The Cancun upgrade is a major upgrade to the Ethereum network that will bring unprecedented speed increases and cost reductions to Ethereum L2, with EIP-4844 and possibly EIP-6969. ššø
2ļøā£ The core of Cancun upgrade
The core of the upgrade is EIP-4844, which will introduce a new transaction type Blob, which can provide cheap storage costs and does not need to be permanently saved, which has a huge effect on reducing storage costs. š§š”
3ļøā£ Cancun upgrade will stimulate
The explosion of L2 ecology. More than 90% of the transaction costs paid by users in L2 Rollups are caused by data storage. The Cancun upgrade will reduce transaction costs by an order of magnitude and improve user experience. šš„
4ļøā£ Technical progress of Cancun upgrade
It has been discussed 18 times so far. The development workload is large and may be delayed than expected. šā³
5ļøā£ Cancun upgrade resonates with BTC halving
The Cancun upgrade may be in the second half of 2023, coinciding with the expected hype time of BTC's next halving (May 9, 2024), which may stir up the market pattern. šŖļøš„
6ļøā£ Investment opportunities worth investing in Cancunās upgrade
L2 faucet - Arb, Op;
Leading applications - GMX, RDNT, Magic, Velo, Snx;
L2 Alternative Project ā Polygon;
zkRollup application projects ā LRC, IMX;
Optimism fork - Boba, Metis. š°š
Friends, are you ready to welcome the benefits brought by the Cancun upgrade? Or, do you have any other opinions? Welcome to leave a message below to discuss! š¬š
