#Ethereum Hegotá hard fork may be the last “normal” upgrade
Event: Hegotá (target launch in 2027). Core upgrades include FOCIL anti-censorship mechanisms and Frame transactions (native account abstraction, support for post-quantum signatures). Industry view: Hegotá is likely to be Ethereum’s last large-scale hard fork; afterward, the ecosystem will move toward incremental, forkless protocol iterations, without further major synchronized hard-fork upgrades.
Pros: Completing the three fundamental layers—anti-censorship, account abstraction, and post-quantum security—will strengthen the L1 foundation, benefiting Ethereum’s ecosystem, as well as the long-term narratives for L2 and RWA. It also reduces the risk of network splits from future hard forks and boosts institutional confidence.
Cons: The upgrade has not been implemented yet; technical complexity is high, with risks of testing issues and delayed rollout. After this major upgrade, incremental narrative momentum for L1 may slow down, and value growth will rely more on the L2 ecosystem. In the short term, it may not directly increase ETH transaction fees.
Outlook: Fundamentally positive in the medium to long term; in the short run, it’s mostly a sentiment-driven theme. ETH’s price core still depends on the Fed’s interest rates and U.S. Treasury yields—closely track Hegotá testnet progress.
Event: Hegotá (target launch in 2027). Core upgrades include FOCIL anti-censorship mechanisms and Frame transactions (native account abstraction, support for post-quantum signatures). Industry view: Hegotá is likely to be Ethereum’s last large-scale hard fork; afterward, the ecosystem will move toward incremental, forkless protocol iterations, without further major synchronized hard-fork upgrades.
Pros: Completing the three fundamental layers—anti-censorship, account abstraction, and post-quantum security—will strengthen the L1 foundation, benefiting Ethereum’s ecosystem, as well as the long-term narratives for L2 and RWA. It also reduces the risk of network splits from future hard forks and boosts institutional confidence.
Cons: The upgrade has not been implemented yet; technical complexity is high, with risks of testing issues and delayed rollout. After this major upgrade, incremental narrative momentum for L1 may slow down, and value growth will rely more on the L2 ecosystem. In the short term, it may not directly increase ETH transaction fees.
Outlook: Fundamentally positive in the medium to long term; in the short run, it’s mostly a sentiment-driven theme. ETH’s price core still depends on the Fed’s interest rates and U.S. Treasury yields—closely track Hegotá testnet progress.