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- EIP 3074 community have issued a community call to help delegate their control to a contract
- DAOs help in efficient functioning of day-to-activities of the ETH network
- Layer2 privacy upgrade and Altair upgrade will be a boon for UX
Ethereum upgrade is a hot topic in the crypto world as EIP-3074 community call is just around the corner. The community includes EIP co-authors, editors, client developers, DAPP developers and everyone else who is concerned about Ethereum Cat Herders. The community plans to develop latest updates, testnet, discuss relevant ideas and resolve logical problems. Furthermore, Altair is poised to bring in light client support, inactivity leak accounting and increase in slashing severity. It also features a warm-up upgrade for more client teams to test it and ready theri codebases.
Ethereum ecosystem is truly exciting
The Ethereum network has so far processed 504 million transactions as it experienced an all time high of USD 1,377.72 per 1 ETH on January 14, 2018. The ecosystem involves infinite generation and central shareholdership. A central development team holds the largest supply of ETH in the network. It further includes endless emission with a lot of resources and numerous products based on smart gas. People can run smart deals with the help of smart contracts.
ETH is one such cryptocurrency that has been shaping the digital currency market since its inception. It’s core apprenticeship development program at the protocol level will impact ethereum in multiple ways than one. This is an interesting and challenging program to enter in the crypto world. Ethereum protocols will be understood with a better understanding and help reduce barriers to entry.
Decentralized Autonomous Organisations do have a say
DAOs are member owned communities with like-minded folks across the globe. Everyone in the organisation has a say in the decisions and safe place to commit funds. DAO runs by the rules that it was assigned with in the first place. Ethereum’s organization is well established to trust the autonomous organization through its developer program.
DAOs have token based membership and share-based membership that makes for a closer-knit and human centric organization. The smart contract is the DAOs backbone as they are tamper-proof once they are live on the network.
Will the Layer 2 tech save Ethereum?
Layer 2 scaling will help to iron out network congestion issues forever. Ethereum’s high gas fees will be lowered with an efficient scaling solution. Very few people are talking about the scaling solution and its liquidity measures. The firepower of the Ethereum developer community will propel all energy to solve issues at hand quickly. There will be consolidation in the L2 space as it will help keep ETH safe. Furthermore, a polygon framework and L2-to-L2 bridge will solve all liquidity and composability issues in the near future.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
