Ethereum developers urgently call for a halt to the Glamsterdam upgrade over upgrade risks that could affect smart contracts.
The Ethereum developer team has warned the core team to pause the Glamsterdam upgrade, as the planned gas changes in EIP-8037 could render immutable smart contracts unusable and leave users’ funds frozen. Opponents include the founder of Curve Finance and members of the Ethereum Foundation. Testing of the upgrade had already been delayed on the Hoodi testnet in October after researchers discovered risks. The controversy is intense, with some supporters even changing their tune and saying, "Don't rush to activate it."
Market impact
- Short term: Bearish sentiment may intensify, especially as ETH holders panic-sell.
- Medium term: The industry landscape may become more uncertain, and regulators may seize the opportunity to intervene.
My assessment
This event is bearish for ETH in the short term. Although the news itself has not directly triggered a major price fluctuation, a failed upgrade would expose Ethereum's technical bottlenecks. If the issue is not resolved this time, it could raise doubts about the reliability of blockchain technology as a whole. I recommend waiting on the sidelines.
$BTC $ETH #BTC #ETH
⚠️ This is not investment advice
#EthereumGlamsterdamUpgradeCouldBreaktheChain,DevelopersWarn
The Ethereum developer team has warned the core team to pause the Glamsterdam upgrade, as the planned gas changes in EIP-8037 could render immutable smart contracts unusable and leave users’ funds frozen. Opponents include the founder of Curve Finance and members of the Ethereum Foundation. Testing of the upgrade had already been delayed on the Hoodi testnet in October after researchers discovered risks. The controversy is intense, with some supporters even changing their tune and saying, "Don't rush to activate it."
Market impact
- Short term: Bearish sentiment may intensify, especially as ETH holders panic-sell.
- Medium term: The industry landscape may become more uncertain, and regulators may seize the opportunity to intervene.
My assessment
This event is bearish for ETH in the short term. Although the news itself has not directly triggered a major price fluctuation, a failed upgrade would expose Ethereum's technical bottlenecks. If the issue is not resolved this time, it could raise doubts about the reliability of blockchain technology as a whole. I recommend waiting on the sidelines.
$BTC $ETH #BTC #ETH
⚠️ This is not investment advice
#EthereumGlamsterdamUpgradeCouldBreaktheChain,DevelopersWarn
