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Ethereum's Shanghai Upgrade Will Help Layer 2 Networks, Crypto Investor Says
Max Williams, chief operating officer at Runa Digital Assets, noted the upgrade will allow developers to focus on improving users' experience.
Updated Apr 9, 2024, 11:09 p.m. Published Apr 6, 2023, 6:08 p.m.
Ethereum-based layer 2 blockchains are likely to benefit from the network's upcoming Shanghai hard fork, also known as the “Shapella” upgrade, said Max Williams, chief operating officer at digital asset-management firm Runa Digital Assets.
“There's a big benefit here coming to layer 2’s,” Williams told CoinDesk TV’s “First Mover” on Thursday about Ethereum's software upgrade that is scheduled for April 12.
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Williams wrote a report on the upgrade. It stated that the layer 2 sub-sector is “already trending well” and that the upgrade will give developers the time “to shift their attention to improving the user experience on layer 2s.”
Shapella is the final upgrade in Ethereum's migration to a proof-of-stake method of maintaining the network, It will allow withdrawals from staking ETH, Williams said. Other benefits will be to lower fees for users and to increase Ethereum's capacity to handle transactions.
Read more: Upcoming Upgrades That Will Shape the Ethereum Ecosystem
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