Home
News
Blockchain technology’s rapid development and growth have created dozens of opportunities in various sectors and the Ethereum blockchain is leading in terms of development.
Ryan Berckmans, an engineer within the Ethereum ecosystem and an investor, raised concerns over a catastrophic failure. He believes that if the yet-to-be-launched Pectra hard fork does not incorporate Ethereum Improvement Proposal (EIP) 7251, which is also known as “Maxeb.”
The forthcoming hard fork aims to handle the pressing issue of vulnerability in the Ethereum ecosystem to address the surging number of staked Ether by facilitating more significant consideration for the validators.
Berckmans’ recent X post solely talks about the possible problems that could be triggered after the implementation. He wrote, “Ethereum’s next hard fork, Pectra, should include EIP-7251 (“maxeb”).”
He added, “maxeb increases a validator’s maximum effective balance from 32 ETH to any number of ETH[1]. Why is this urgently needed?, Without maxeb in pectra, Ethereum has no realistic line of defense against the possibility of staked ETH % growing to ~50%+ before a future ~2026 hard fork after pectra.”
Ethereum Improvement Proposal 7251 is expected to boost the maximum effective balance for validators from the existing limit of 32 Ethereum.
Berckmans noted in the same post, “Base layer experts advise that if staked ETH grows to ~50%+, that will result in severe-to-fatal beacon chain instability. It wasn’t designed for so many validators.”
The Ethereum blockchain is one of the most prominent blockchains, which allows developers to build and deploy smart contracts. The blockchain uses its native currency, Ether, for all sorts of transactions on the blockchain.
Ethereum is Leading Blockchain Development
Since its evolution, the Ethereum blockchain has undergone many updates and developments. The Ethereum blockchain is the primary ecosystem for thousands of crypto projects.
Uniswap, MakerDao, Aave, Curve Finance, 1inch, The Metaverse, The Sandbox, and hundreds of other projects are built on the Ethereum blockchain.
The cryptocurrency market is eagerly awaiting the approval of Ether spot ETF, and dozens of companies have already filed applications with the SEC. Earlier in January, the Securities and Exchange Commission of the United States approved the much-awaited Bitcoin spot ETF.
Market observers claim that Ethereum has a different potential compared to other cryptocurrencies. In the past few weeks, the price of Eth grew more than 60%, and when writing, it was trading at $3,803.
The development and advancement of Ethereum Blockchain will help the projects battle unwanted issues. In terms of multi-functionality, Eth blockchain is the best example.
Market Price Update
The market capitalization of the crypto sector surged 134% in the past six months and crossed the milestone of $2.50 Trillion. Crypto market fear & greed index shows ‘86,’ termed extreme greed.
Bitcoin is the most valuable cryptocurrency in terms of price, market cap, and trading volume. When writing, it was trading at $66,645 with an intraday decline of 0.66%.
Despite a minute decline in the trading price, the trading volume of Bitcoin has surged over 27.60% in the past 24 hours.
The past few years have turned out to be profitable for meme coins; some newly launched memecoins have performed significantly in the past 52 weeks. Dogwifhat (WIF) has become the most prominent memecoin of the market.
WIF started trading at $0.0677, and as of writing, its price is 745% higher than its all-time low or the filing price.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
