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 2024 Dencun upgrade, by introducing EIP-4844 (Proto-Danksharding), initially reduced Layer2 settlement costs, but Rollup transactions are still limited by block capacity. As an important part of the Pectra (Prague + Electra) roadmap, the Fusaka upgrade focuses on execution layer performance optimization, aiming to pave the way for Layer2 scaling by increasing the Gas limit and optimizing account abstraction mechanisms. This upgrade is seen as a key transition for Ethereum from "modular architecture exploration" to a "high-efficiency settlement layer," with the mainnet scheduled to go live on December 3.
2. Technical Core: Doubling Gas Limit and Account Abstraction Upgrade
The core breakthrough of the Fusaka upgrade lies in raising the default block Gas limit of the mainnet client from 30 million to 60 million, theoretically doubling the number of transactions that can be accommodated in a single block. This adjustment will directly enhance Data Availability Sampling (DAS) capabilities, providing more on-chain space for Layer2 projects. According to estimates, after the upgrade, the cost per Layer2 transaction is expected to 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 functionality, allowing users to reduce operational overhead through batch signatures, which is expected to lower transaction signature costs by 20%. Combined with EIP-7251's optimization of the Gas model, Ethereum's target TPS (transactions per second) will gradually approach 12,000, directly competing with high-performance public chains such as Solana.
To more intuitively analyze the impact of Fusaka, we compare its key metrics with previous upgrades through a data table. The following 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 (Millions) | TPS Increase (%) | Number of Testnets |
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 sources: Ethereum.org proposal repository, CoinMarketCap historical data, and Bankless Times report
3. Testnet Deployment: Holesky Takes the Lead, Multiple Verifications Ensure Stability
To ensure a smooth mainnet upgrade, the Ethereum developer team has designed a "four-network simultaneous launch" testing strategy:
● Holesky Testnet will be the first to activate the Fusaka upgrade on October 1 (UTC+8). As a network dedicated to validator 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 launch a non-destructive simulation test 24 hours before the official upgrade, covering over 1,000 validator nodes, with a focus on monitoring peak Gas consumption and block propagation delays.
● Subsequent Nodes: The Sepolia testnet will follow on October 14 (UTC+8), and Goerli's replacement network Hoodi is scheduled to activate on October 28 (UTC+8). The final mainnet upgrade window is set for December 3 (UTC+8).
Currently, the four major client teams, including Geth and Nethermind, have not yet released supporting versions. Developers emphasize the need to complete synchronization before the end of September to avoid repeating the delays caused by client disagreements during the 2024 Dencun upgrade.
4. Market Response: Ecosystem Heats Up, Layer2 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, trading volume increased by 25%, and Uniswap V3 liquidity pools saw a single-day capital inflow of $50 million. Community discussion surged, with over 150,000 posts generated under the #EthereumFusaka tag on X, and core figures such as Vitalik Buterin voiced their support.
The Layer2 ecosystem became the direct beneficiary: Optimism's total value locked (TVL) increased by 8% to $45 billion, and Arbitrum announced it would be compatible with Fusaka's Rollup upgrade plan. At the institutional level, Grayscale increased its ETH trust holdings by 1%, and BlackRock is also exploring the potential impact of the upgrade on spot ETF structures. However, a Bitget report shows that due to client progress delays, the community's short-term confidence index temporarily dropped to 75 points.
5. Ecological Significance: Competing in the High-Performance Track, Moving Towards a Global Settlement Layer
The Fusaka upgrade reflects Ethereum's strategic shift under competitive pressure. Facing Solana's measured performance of over 5,000 TPS, Ethereum needs to achieve a leap through modular scaling. The Pectra roadmap integrates execution and consensus layer upgrades, and the account abstraction promoted by EIP-7702 will simplify user operations, lowering the wallet usage threshold by 50% and further attracting traditional developers.
If the upgrade goes smoothly, Ethereum is expected to support DeFi protocol TVL surpassing $1 trillion, and on-chain application ROI could reach 300%. However, risks cannot be ignored: an excessively high Gas limit may increase node operation pressure, and potential centralization risks need to be balanced by subsequent proposals; if client coordination issues are not resolved, the probability of mainnet delay is about 20%.
Looking ahead, the activation of the Holesky testnet on October 1 (UTC+8) will be a key observation point. Against the backdrop of expected Federal Reserve interest rate cuts and global Web3 policy relaxation, Fusaka may become an important milestone for Ethereum's transition from a "smart contract platform" to a "global settlement layer."
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