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Shanghai upgrade is coming soon, do you think eth will explode after Shanghai upgrade?
- Ethereum Shanghai Upgrade
The upcoming Ethereum upgrade has generated huge interest in liquid collateral derivatives. Shanghai will implement $ETH pledge for withdrawals and other minor changes. However, this may not cause the massive $ETH sell-off that many expect.
This upgrade will set up a withdrawal queue to prevent everyone from getting their pledged ETH back at once. Furthermore, it appears that less than 50% of $ETH pledges are in the black, so a massive $ETH sell-off is unlikely.
The Shanghai upgrade is expected to take place in April 2023.
- Eigenlayer is online on the main network
Eigenlayer is one of the most innovative projects I've found lately. It can be seen as a $ETH repledge solution. With Eigenlayer, Ethereum verifiers will be able to secure multiple networks/protocols at once.
A good way to measure the security of a PoS chain is to look at the total value of tokens locked up by the verifier. The higher this value, the greater the cost of the attack.
Because of this, Ethereum is one of the most secure L1s, so other protocols may be interested in renting security from it. In short, Eigenlayer is building a marketplace where ETH node operators can choose to offer their services for an additional fee. They can even validate networks such as side chains or even non-EVM networks. Bad behavior will cut the ETH they lock in.
Anything from L1 and L2 to prophecy machines and Bridges can take advantage of Eigenlayer's technology. Mantle, the upcoming Ethereum L2 modular design project, is one of the data availability solutions that will use EigenLayer.
Expect the Eigenlayer main network to launch in the third quarter.