THE ETHEREUM CENSORSHIP IS WORRYING

There are some good news and bad news for Ethereum holders. The good news is that they have got the main testnet coming up and layer two coming up while the bad news is the increasing amount of censorship. The testnet is coming up, it will allow developers to experiment with the upgrades of Ethereum. The upgrade will happen in 2023, it will allow Ethereum staker to be able to unstake the Ethereum. All those that stake will not be able to unstake at once, it will be a gradual process.

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The upgrade will also bring other Ethereum proof of proposer such as the EIP 4844, it will introduce shading to the blockchain which will reduce transaction fees. I do not think the Shanghai upgrade is as big as the other upgrades that are coming next year. Ethereum deflation is a good thing to consider because the supply for Ethereum is at -0.23%. Although, supply has not decreased very much it is still in the negative growth range. It is very interesting to see Ethereum has a deflationary asset. Over time we are going to see much Ethereum being burned and its supply will decrease.

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Right now, Ethereum is not having massive daily transactions just like in the bull run. The Ethereum main is processing about 1.3 to 1.4 million transactions per day and layer 2 (Arbitrum) is doing about 200 thousand daily transactions. Optimism layer 2 is also doing about 75 thousand daily transactions.

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The Ethereum censorship is worrying because the block hit the 51% threshold. On Friday Ethereum censored 51% of the block and most of the blocks are being delivered by relays that censored transactions that have interaction with tornado cash. It is just sad to see the decentralized software have software in the middle of its transaction. I don't like the idea of censorship in the Ethereum block.