Interpretation of Ethereum Fusaka Upgrade It has been 8 days since the official activation of the Ethereum Fusaka (Fulu+Osaka) upgrade on December 3rd. There was no price surge or network outage. It's as smooth as upgrading the Windows system. Many people think 'Is this all?' and even find it boring. But this kind of 'boredom' is the most terrifying. Fusaka， It is to ensure that Ethereum not only survives but also counterattacks in 2026, when it is sandwiched by high-performance chains such as Solana and Monad. Today, let's break down: What exactly did Fusaka upgrade? Why do I think this is the beginning of Ethereum's' data hegemony '? What is Fusaka? According to the old naming convention of "city+star" on Ethereum: Osaka: Execution Layer Upgrade. Fulu: Consensus Layer Upgrade. Combination=Fusaka. If the previous Pectra upgrade (early 2025) was aimed at making the wallet user-friendly (account abstraction), then Fusaka had only one core task: to push the price of "data" to the floor. Fusaka's core weapon: PeerDAS (Pinduoduo Data) This is the absolute protagonist of this upgrade - EIP-7594 (PeerDAS). Before Fusaka, although we had Blob (which was expanded during Pectra), nodes still had to download large amounts of data honestly. It's like buying a book, you have to read it from beginning to end to confirm that the book is complete. This leads to a limit on the number of Blob, and although the cost of L2 has decreased, it has not yet reached the level of 'negligible'. What does PeerDAS (Peer to Peer Data Availability Sampling) do? It has turned 'full download' into 'spot check'. The current verification nodes do not require downloading complete blob data, only randomly selecting a few samples. If everyone randomly checks and there are no problems, then mathematically speaking, this data is not a problem. This means: Node: The burden has decreased, and it can run without buying a T-class hard drive. For L2 (Arbitrarum, Base, Optimism): It is possible to load 8 times or even more data onto Ethereum with almost no increase in cost. PeerDAS has completely transformed Ethereum from an "expensive calculator" to an "unlimited capacity hard drive". Who has been affected by this upgrade? Many people are criticizing Ethereum for being slow and expensive. But after the Fusaka upgrade, if you look at the gas fees of Base and Arbitrarum, you will find that they are approaching the edge of being "free" (at the 0.001 cent level). Source: BaseScan This is Vitalik's strategy: L1 (mainnet) no longer serves "humanity", only L2. Blob capacity skyrockets: After Fusaka, both the target and maximum number of Blob have been increased. This is a direct benefit for L2. Previously, L2 had to compete for Blob space, but now the space management is sufficient. Gas Limit Adjustment: Although the community has been arguing for a long time about whether to increase the Gas Limit to 150 million, this time Fusaka finally implemented a relatively conservative but robust increase (to around 60 million dynamic adjustment space), in order to ensure decentralization and not aggressively increase node burden. Future: Where have Verkle Trees gone? The "Statelessness" and Verkle Trees (an upgraded version of Merkle Trees) that everyone was promoting last year were not fully included in Fusaka. Fusaka just laid the groundwork. The true 'stateless wholeness' - that is, you can verify the Ethereum network in seconds even with your phone - has been postponed until the next upgrade: Glamsterdam (2026), Glamour + Amsterdam）。 This means that although Fusaka has solved the congestion of data storage, it has not completely solved the historical legacy problem of Ethereum's "State Bloat". This is also one of the reasons why the price of ETH did not skyrocket immediately after the upgrade - the "ultimate form" expected by the market is still next year. finally After the Fusaka upgrade landed, my several judgments are: The internal competition battle of L2 has begun: since paying the "protection fee" to Ethereum has become cheaper, the profits in the hands of L2 project parties will increase. The next step is to see who is willing to subsidize users and whose ecosystem can run popular applications. Pay attention to the tokens of OP Stack and ZK series leaders. ETH positioning transfer: Don't expect the ETH mainnet to be as smooth as Solana anymore. ETH's current positioning is as the "settlement layer of the global digital economy". It is more and more like the SWIFT system in the United States, or the underlying TCP/IP protocol of the Internet. You don't usually chat directly with TCP/IP, but you can't live without it. Long term bullish view, short-term bottoming out: Technological upgrading is not about maximizing benefits, but about completing infrastructure. The car (application) will only come when the road is repaired. In 2026, we look forward to the arrival of Glamsterdam, which will be the moment when Ethereum truly competes with high-performance monolithic chains.