The long-awaited Merge, which occurred on September 15, was hardly lucrative for Ethereum, as investors remain unsure about the prospects of the ETH blockchain in the long run.
The plethora of next few updates is expected to begin in about six months’ time. The first one on the list, the Shanghai upgrade, is set to reduce ETH gas prices and minimize the carbon footprint – the two major points of concern for Ethereum critics. At the same time, experts warn users about more potential volatility in ETH prices for the time being.
Shanghai update to affect ETH gas fees
Shanghai is mainly aimed at lowering Ethereum’s high transaction fees - a notoriously known aspect of the popular cryptocurrency platform. The upgrade is set to allow validators with deposited ether tokens to withdraw staked coins and further hold or sell them.
Following Shanghai, users could be expecting several new upgrades nicknamed by Vitalik Buterin as “the surge”, “verge”, “purge”, and “splurge” - all designed specifically to cater to users’ needs.
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From what it looks like, Ethereum majorly prioritizes reducing the network’s energy consumption and notoriously known ETH gas fees, as the second-biggest cryptocurrency platform is under fire for its negative impact on the environment and slow speed.
The Merge and upcoming updates are set to improve ETH usability and boost investment appeal in comparison to other “Ethereum killers”, such as Solana and Polkadot, in the long term.