Regarding the Cancun upgrade, it has not yet been determined whether it will be delayed. The key lies in whether the public test network can be successfully launched before the Ethereum Developer Conference in November. The current testnets include Hnet (Holesky), Gnet (Goerli) and Snet (Sepolia), and the first testnet to go online may be Gnet. The success of the Cancun upgrade will directly affect the future performance of the Ethereum network.

One of the key technical upgrades of the Cancun upgrade is the introduction of the EIP-4844 protocol, which will help increase the computing speed of the Ethereum network and reduce transaction fees. The goals of this upgrade are to enhance scalability, reduce Gas fees for L2 interactions, strengthen network security, improve data storage efficiency and cost-effectiveness, and enhance interoperability between different chains.

From an investment perspective, the Cancun upgrade may directly affect the performance of OP (Optimism) and ARB (Arbitrum). Both OP and ARB are Layer 2 expansion solutions for the Ethereum network, each with different competitive advantages. The main advantage of OP is its open source L2 technology stack - OP stack, which allows other projects to quickly deploy their own L2 solutions and reduces development and testing costs. ARB is known for its advantages in L2 business data.

Since its launch, ARB has consistently performed better than OP in various L2 business data. However, OP proposed the Superchain strategy in February this year and began to promote OP stack, gradually changing this situation. OP’s Superchain strategy aims to build a multi-chain network composed of L2 using OP stack. These chains can achieve safe and efficient information and asset intercommunication. In addition, key indicators such as the number of active addresses, L2 profits and monthly interactions on the OP chain have continued to grow, showing that it is gradually catching up with ARB.

The Cancun upgrade may have a significant impact on Ethereum and related Layer 2 expansion plans, especially on the two currencies OP and ARB. Investors may want to keep a close eye on the progress of the Cancun upgrade and its potential impact on these currencies.