THE ISSUES WITH ETHEREUM UPGRADE

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Both good and bad news are available for Ethereum owners. The main testnet and layer two are going live, which is good news. The bad news is that censorship is getting more and more intrusive. The upcoming testnet will let programmers to around with Ethereum's enhancements. The upgrade will take place in 2023 and give Ethereum holders the ability to unstake their holdings. It won't be possible for everyone to unstake at once; it will happen gradually.

The upgrade will also provide other Ethereum proofs of proposer, such as EIP 4844, which will shade the blockchain and lower transaction costs. The Shanghai update, in my opinion, is not as significant as the other enhancements scheduled for next year. Given that the supply of Ethereum is currently at -0.23%, it is wise to think about deflation. Despite the fact that supply has not significantly decreased, it is still experiencing negative growth. The fact that Ethereum has a deflationary asset is really intriguing. A significant amount of Ethereum will be burned over time, reducing the currency's supply.

Unlike during the bull run, Ethereum is not now experiencing a lot of daily transactions. Layer 2 (Arbitrum) processes roughly 200 thousand transactions daily, whereas the Ethereum main network processes about 1.3 to 1.4 million daily. Additionally, optimism layer 2 processes around 75,000 daily transactions.

The block exceeded the 51% threshold, which raises concerns about Ethereum censorship. The majority of the blocks are being sent by relays that censored transactions involving tornado currency on Friday, when Ethereum censored 51% of the block. The decentralized program being in the middle of a transaction is really awful to see. Censorship in the Ethereum block is not something I support.