1. Upgrade Background: From Dencun to Pectra, Ethereum Continues to Tackle Scalability Bottlenecks
As blockchain application scenarios continue to expand, the Ethereum network has long faced challenges of high gas fees and insufficient throughput. The Dencun upgrade in 2024 initially reduced Layer 2 settlement costs by introducing EIP-4844 (Proto-Danksharding), but Rollup transactions are still limited by block capacity. As a key component of the Pectra (Prague + Electra) roadmap, the Fusaka upgrade focuses on optimizing execution layer performance, aiming to pave the way for Layer 2 scalability by increasing gas limits and optimizing account abstraction mechanisms. This upgrade is seen as a critical transition for Ethereum from "modular architecture exploration" to "efficient settlement layer," with the mainnet scheduled to go live on December 3.
2. Technical Core: Doubling Gas Limits and Upgrading Account Abstraction
The core breakthrough of the Fusaka upgrade lies in increasing the default block gas limit of the mainnet client from 30 million to 60 million, theoretically allowing the transaction volume per block to double. This adjustment will directly enhance Data Availability Sampling (DAS) capabilities, providing more on-chain space for Layer 2 projects. It is estimated that after the upgrade, the cost of a single Layer 2 transaction could drop from $0.05 to $0.01, significantly improving the feasibility of high-frequency applications such as DeFi and gaming.
At the same time, the EIP-7702 proposal introduces temporary account abstraction features, allowing users to reduce operational overhead through batch signing, which is expected to lower transaction signing costs by 20%. Combined with EIP-7251's optimization of the gas model, the target TPS (transactions per second) for the Ethereum network will gradually approach 12,000, competing directly with high-performance public chains like Solana.
To provide a more intuitive analysis of Fusaka's impact, we compare its key metrics with previous upgrades in the following data table. The table is based on public proposals and test data, focusing on gas limits, TPS improvements, and testnet timelines.
Upgrade Name
Activation Date (Mainnet)
Gas Limit (Million)
TPS Improvement (%)
Testnet Count
Fusaka (Pectra)
2025/12/3
60
100
4 (Holesky, etc.)
Dencun (2024)
2024/3/13
30
50
3
Shanghai (2023)
2023/4/12
30
20
2
London (2021)
2021/8/5
30
15
2
Overall Roadmap Average
-
45
46
2.75
Data Source: Ethereum.org proposal repository, CoinMarketCap historical data, and Bankless Times report
3. Testnet Deployment: Holesky Takes the Lead, Multi-Validation Ensures Stability
To ensure a smooth mainnet upgrade, the Ethereum developer team has designed a "four-net launch" testing strategy:
● Holesky Testnet will be the first to activate the Fusaka upgrade on October 1. As a network dedicated to validating nodes and consensus layer testing, Holesky will simulate the mainnet environment to verify the impact of the gas limit increase on network load.
● Shadow Fork: The EthPandaOps team plans to initiate a non-destructive simulation test 24 hours before the official upgrade, covering over 1,000 validating nodes, focusing on monitoring gas consumption peaks and block propagation delays.
● Subsequent Nodes: The Sepolia testnet will follow on October 14, and the alternative network Hoodi for Goerli is scheduled to activate on October 28, with the final mainnet upgrade window locked for December 3.
Currently, the four major client teams, including Geth and Nethermind, have not yet released supporting versions. Developers emphasize the need to complete synchronization by the end of September to avoid a repeat of the delays experienced during the 2024 Dencun upgrade due to client discrepancies.
4. Market Response: Ecological Heat Rises, Layer 2 Projects Benefit First
After the release of the ACDE meeting minutes, the market quickly responded positively. The price of ETH rebounded slightly from $3,880 to $3,899, with trading volume increasing by 25%. The daily capital inflow into the Uniswap V3 liquidity pool reached $50 million. Community discussion heat surged, with over 150,000 pieces of content generated under the #EthereumFusaka tag on platform X, and core figures like Vitalik Buterin voiced their support.
The Layer 2 ecosystem has become a direct beneficiary: the total locked value (TVL) of Optimism increased by 8% to $45 billion, and Arbitrum announced it would support the Fusaka Rollup upgrade plan. On the institutional level, Grayscale increased its ETH trust share by 1%, and BlackRock is also exploring the potential impact of the upgrade on the spot ETF structure. However, a report from Bitget indicates that due to delays in client progress, the community's short-term confidence index has temporarily dropped to 75 points.
5. Ecological Significance: Competing in the High-Performance Arena, Moving Towards a Global Settlement Layer
The Fusaka upgrade reflects Ethereum's strategic shift under competitive pressure. In the face of Solana's real-world performance exceeding 5,000 TPS, Ethereum needs to achieve a lead through modular scalability. The Pectra roadmap integrates upgrades to both the execution layer and the consensus layer, with EIP-7702 promoting account abstraction to simplify user operations and reduce wallet usage barriers by 50%, further attracting traditional developers.
If the upgrade proceeds smoothly, Ethereum is expected to support DeFi protocol TVL surpassing $1 trillion, with on-chain application ROI potentially reaching 300%. However, risks cannot be ignored: excessively high gas limits may increase node operational pressure, and potential centralization risks need to be balanced through subsequent proposals; if client coordination issues remain unresolved, the probability of mainnet delays is about 20%.
Looking ahead, the activation of the Holesky testnet on October 1 will be a key observation point. Against the backdrop of anticipated interest rate cuts by the Federal Reserve and the loosening of global Web3 policies, Fusaka may become an important milestone for Ethereum's transition from a "smart contract platform" to a "global settlement layer."
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