Posted on:
- Ethereum developers postpone Cancun upgrade.
- The price of ETH was unaffected and continued to grow.
As the price of Ethereum (ETH) soared, interest in the network also increased. However, this improving sentiment may soon come crashing down due to new development updates in Ethereum.
slight delay
They recently decided to delay deploying the Cancun upgrade.
This was done when Ethereum developers recently met at their 176th meeting to discuss upgrades to make Ethereum better. They are currently testing the Cancun/Deneb upgrade to make Ethereum more efficient and secure.
We plan to go live on the Goerli test network in mid-January, after the holidays.
GM, ETH developers decided yesterday to push cancun/deneb activation of goerli testnet to jan.
Why this matters: Assuming the public testnet forks are spaced at least two weeks apart, Cancun’s mainnet activation is now scheduled for March and then some…
— Christine Kim (@christine_dkim) December 8, 2023
The test begins
Currently, the Ethereum team is actively testing the upgrade on Devnet #12, a playground of sorts.
They are also testing a mechanism called Maximal Extractable Value (MEV) to ensure that validators are compensated fairly.
In this upgrade, the team introduced a feature called Builder Override Flags. This is like a tool that helps signal when something is wrong and the validator needs to switch to a safer way of creating blocks.
This is a way to make your network more secure and efficient. Now they are also thinking about the next upgrade, called Prague/Electra.
How will ETH be affected?
By improving the Ethereum network, upgrades to Cancun/Deneve and Prague/Electra may affect the price movements of ETH.
Positive developments and enhanced features often attract more users and investors, potentially driving demand for ETH.
Read Ethereum (ETH) price prediction for 2023-24
As the network becomes more efficient and user-friendly, it could have a positive impact on market sentiment, contributing to a bullish trend in the price of ETH.
At press time, ETH was trading at $2,361.38. 0.41% in the last 24 hours.
Source: Santiment