Ethereum has gone through various updates and the price has increased consistently since its launch. The next upgrade is scheduled for July 2021, even after attaining a fully environment-friendly and energy-efficient PoS protocol.
The post-merger clean-up update termed as a Hardfork is lined up in the developmental upgrades further paves the way for attracting institutional investors to it. One such developmental upgrade is sharding, which expands Ethereum’s capacity to process the ongoing transactions by splitting its database into further 64 more mini blockchains called ‘shards’ that can process data and transactions distinctly and that too in a parallel manner. Similarly, enhancing the security of the Ethereum protocol has been another upgrade that will benefit the trades to maintain strict anonymity.
Furthermore, the July upgrade of Ethereum is currently a hot topic in the market. Ethereum Improvement Proposal [EIM] 1559 is likely to be packaged with the London Hardfork this July. A minimum of 5 other 1559 (EIP) will be packaged to join EIP 1559 in London. This upgrade flips a typical blockchain transaction on its head to fix a number of issues with Ethereum’s user interface. Hence, the technical upgrades and developmental strategies are gaining lots of traction in the market giving a push to Ethereum’s growth in the digital market.
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