{"id":321591,"date":"2023-06-19T20:00:45","date_gmt":"2023-06-19T14:30:45","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=321591"},"modified":"2023-06-19T13:48:23","modified_gmt":"2023-06-19T08:18:23","slug":"ethereum-what-the-cancun-upgrade-has-in-store","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ethereum-what-the-cancun-upgrade-has-in-store\/","title":{"rendered":"Ethereum: What the Cancun Upgrade has in store"},"content":{"rendered":"<ul>\n<li><em>Ethereum developers have finalized the scope for the Cancun upgrade.<\/em><\/li>\n<li><em>The price showed signs of recovery, but interest in Ethereum NFTs fell.<\/em><\/li>\n<\/ul>\n<p>Despite the volatility in the cryptocurrency market, Ethereum [ETH] has consistently demonstrated progress. Its latest milestone comes with the finalization of the scope for the upcoming Cancun upgrade, which promises to bring significant enhancements to Ethereum.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the <a href=\"http:\/\/ambcrypto.com\/calculator\/ethereum-profit-calculator\" target=\"_blank\" rel=\"noopener\">Ethereum Profit Calculator<\/a><\/p>\n<hr \/>\n<h3>Changes made as Cancun inches closer<\/h3>\n<p>During the recent <a href=\"https:\/\/www.galaxy.com\/research\/insights\/ethereum-all-core-developers-consensus-call-111\/\" target=\"_blank\" rel=\"noopener\">developers call<\/a>, the Ethereum development team reached an agreement on the specifics of the Cancun upgrade, a major update that will introduce proto-dank sharding to the Ethereum network.<\/p>\n<p>This new feature will increase data availability for rollups, improving the network&#8217;s scalability and efficiency.<\/p>\n<p>One important proposal discussed during the call was a code change aimed at preventing slashed validators from being selected as block proposers. By implementing this mechanism, the protocol ensures that these validators, who have been penalized for misconduct, are excluded from the consensus process.<\/p>\n<p>This safeguard reduces the risk of disruptions and malicious activity within the network, further strengthening Ethereum&#8217;s security and reliability.<\/p>\n<h3>Validator concerns get validated<\/h3>\n<p>Another significant change proposed during the discussion revolves around the effective balance of Ethereum validators. Presently, validators&#8217; effective balance is capped at 32 ETH, meaning they do not earn interest on staked balances beyond this threshold.<\/p>\n<p>However, the Ethereum Foundation has put forth a proposal to remove the 32 ETH cap on effective balances, aiming to make staking more attractive and reduce barriers for validators.<\/p>\n<p>These updates hold the potential to attract more validators to the Ethereum network. At press time, there were 618,954 validators actively participating, showing a 7.15% increase over the last 30 days.<\/p>\n<figure id=\"attachment_321607\" aria-describedby=\"caption-attachment-321607\" style=\"width: 1394px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-19-at-12.46.18-PM.png\"><img decoding=\"async\" class=\"size-full wp-image-321607\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-19-at-12.46.18-PM.png\" alt=\"\" width=\"1394\" height=\"708\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-19-at-12.46.18-PM.png 1394w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-19-at-12.46.18-PM-300x152.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-19-at-12.46.18-PM-1024x520.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-19-at-12.46.18-PM-768x390.png 768w\" sizes=\"(max-width: 1394px) 100vw, 1394px\" \/><\/a><figcaption id=\"caption-attachment-321607\" class=\"wp-caption-text\">Source: Staking Rewards<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, here&#8217;s <a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\">ETH&#8217;s market cap in BTC&#8217;s terms<\/a><\/p>\n<hr \/>\n<h3>State of ETH<\/h3>\n<p>At the time of writing, ETH was trading at $1,712, a rise from its previous low of $1,641.33. The consistent gas usage on the Ethereum network indicated ongoing activity and utilization, demonstrating the robustness of the ecosystem.<\/p>\n<figure id=\"attachment_321606\" aria-describedby=\"caption-attachment-321606\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.59.59-19-Jun-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-321606\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.59.59-19-Jun-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.59.59-19-Jun-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.59.59-19-Jun-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.59.59-19-Jun-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.59.59-19-Jun-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.59.59-19-Jun-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-12.59.59-19-Jun-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-321606\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>Nevertheless, Ethereum faced a potential challenge with the declining interest in non-fungible tokens (NFTs). Recent data from Messari indicated a significant decrease in NFT transactions on the Ethereum network.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Over the past month, <a href=\"https:\/\/twitter.com\/ethereum?ref_src=twsrc%5Etfw\">@Ethereum<\/a> has witnessed a significant decline in <a href=\"https:\/\/twitter.com\/hashtag\/NFT?src=hash&amp;ref_src=twsrc%5Etfw\">#NFT<\/a> transactions, with a staggering drop of 80%.<\/p>\n<p>This decline in activity highlights a notable shift in the NFT landscape, as users and investors explore alternative platforms and ecosystems. <a href=\"https:\/\/t.co\/SrUqvNhiUs\">pic.twitter.com\/SrUqvNhiUs<\/a><\/p>\n<p>&mdash; Messari (@MessariCrypto) <a href=\"https:\/\/twitter.com\/MessariCrypto\/status\/1670506687760072704?ref_src=twsrc%5Etfw\">June 18, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum developers finalize scope of Cancun upgrade, propose validator-centric changes to attract more participants and improve state of validators.<\/p>\n","protected":false},"author":73,"featured_media":321610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[],"class_list":["post-321591","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ethereum: What the Cancun Upgrade has in store - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Ethereum&#039;s developers call proposed multiple changes while working on the Cancun upgrade. 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