Ethereum Fusaka Upgrade: Boosting Layer 2 Transaction Processing

Ethereum’s highly anticipated Fusaka upgrade is set to activate in just nine hours, scheduled for December 4th at 05:49:11 UTC+8. This transformative update will impact both the consensus and execution layers of the Ethereum blockchain. The aim is to significantly enhance Ethereum’s ability to process large-scale transactions originating from various Layer 2 networks. The block gas limit will be increased to 60 million, paving the way for future adjustments to the blob parameters. This upgrade is also anticipated to reduce Layer 2 transaction fees by up to 40%, making the usage of Layer 2 networks faster and more cost-effective.