- Ethereum outperformed all other networks in terms of development activity.
Whale interest in ETH declined significantly in the last few days.
As a seasoned crypto investor with a keen interest in Ethereum [ETH], I’ve witnessed firsthand how this network has outperformed all other platforms in terms of development activity. The recent buzz around potential Ethereum ETFs did not even cause a ripple in the ongoing progress.
The ongoing excitement about Ethereum [ETH]-based Exchange-Traded Funds (ETFs) hasn’t slowed down the pace of development on the Ethereum network at all.
Development on the rise
Ethereum had one of the highest number of code commits and active developments on its network.
What exactly are the devs up to?
During a recent conference call among Ethereum developers, they discussed and finalized plans for the imminent Pectra update to the Ethereum infrastructure. The Pectra enhancement is undergoing thorough testing in designated environments, known as Devnets, prior to its public implementation.
As a researcher involved in the development of our network, I’m excited to share that the upcoming Devnet 1 version brings significant improvements. One of these advancements includes enhancing the collaboration between validators – the essential nodes responsible for verifying transactions. By implementing a more efficient method, we aim to streamline their interaction and ultimately boost the overall performance of our network.
Secondly, the introduction of EIP 7702 is forthcoming. This innovative system enables users to bestow control over their transactions to designated programs, akin to handing someone the keys to your digital wallet.
As an analyst, I’ve noticed that there’s been a continuous discussion regarding the methodology for users to revoke given permissions according to EIP 7702. The developers are set to reconvene soon to reach a consensus on this significant aspect of the Ethereum Improvement Proposal.
Beyond the Pectra upgrade, the meeting also covered progress on other Ethereum developments.
After completing the necessary adjustments to the Pectra upgrade, we’ll move on to testing the client implementations for EOF, which is specifically designed to enhance data storage within our system.
The EOF team is set to offer additional testing sessions to facilitate the development process. Furthermore, EOF team meetings now occur every other week as the project specifications get refined.
The upcoming testnet release for PeerDAS, an autonomous enhancement to Peer-to-Peer communication among validators in the network, is predicted to occur within the next fortnight. In contrast to Pectra, PeerDAS will adopt the definitive Dencun technical specifications.
As a crypto investor, I was part of an engaging meeting where several announcements were made. One proposal that caught my attention was the suggestion of a new standardized format for drafting improvement proposals. By adhering to this uniform structure, I believe we can enhance the quality of our reviews and make the process more efficient.
Notably, a new GitHub resource page “eth-clients” was introduced for Ethereum developers.
ETH remains stable
As of now, Ethereum (ETH) was priced at $3,494.20 during our latest check. Its value had experienced a modest increase of 0.12% within the previous 24-hour period. Notably, there was an uptick in retail demand for Ethereum.
Read Ethereum’s [ETH] Price Prediction 2024-2025
Over the past few days, Ethereum (ETH) holders with addresses containing between 0.001 and 10 coins have been amassing significant quantities of ETH. In contrast, larger investors or “whales” have displayed less enthusiasm for ETH and have been offloading their holdings.
As a crypto investor, I’ve noticed that despite retail buyers stepping up to absorb some of the selling pressure, a shift in whale sentiment is essential for Ethereum (ETH) to regain its upward momentum and turn green on the charts once more.
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2024-06-24 04:07