Binance Research – Pectra and Fusaka Upgrades: What Does It Mean for Ethereum?

The main topic of the document is the upcoming Pectra and Fusaka upgrades for Ethereum and their impact on the ecosystem.

Key findings include the threat to Ethereum's dominance from competition with Solana and BNB Smart Chain. The Pectra and Fusaka upgrades aim to scale L2s and improve various aspects of Ethereum. The Pectra upgrade includes enhancements in staking, increased data capacity (blobs), and account abstraction. The Fusaka upgrade focuses on scaling Ethereum as a data availability layer and a potential upgrade to the Ethereum Virtual Machine. There is competition in the data availability space where Ethereum lags behind Celestia, EigenDA, and NearDA in data throughput and cost efficiency. The path to sustainable ETH value increase remains a subject of active study.