Analyst Forecasts Altcoins Price Boom With Ethereum 'Dencun' Upgrade, Unveils Top Choices
In an eagerly anticipated development, Ethereum's (ETH) 'Dencun' upgrade scheduled for March 13, is poised to bring about significant advancements in the scalability, security and usability of the Ethereum network .
Renowned crypto analyst Miles Deutscher has highlighted this major hard fork upgrade, highlighting its potential to propel the entire ecosystem forward and sharing his top altcoin picks poised to benefit from the upcoming changes.
Ethereum Dencun Upgrade To Increase L2 Appeal?
The Dencun upgrade part of Ethereum's roadmap initiative known as "The Surge" introduces a series of Ethereum improvement proposals (EIPs) that bolster's the network's efficiency and functionality. EIP-4844 takes the spotlight by introducing Proto-Danksharding, a new development for Ethereum's scalability.
According to Deutscher's analysis, one of the key improvements offered by EIP-4844 is the introduction of "blob Carrying transactions", a new transaction type that significantly reduces transaction costs for both layer-2 (L2) users and increases Ethereum's transaction throughput.
The reduction in fees on Ethereum layer-2s is expected to be the most substantial decrease in gas fees ever witnessed, making L2 chains a compelling choice for decentralized application (dApp) builders and users alike. Consequently, Deutscher suggests that layer-2s are poised to outshine alternative layer-1 solutions in attractiveness and adoption.
The implications of the Dencun upgrade extend across the entire Ethereum ecosystem, spanning decentralized finance (De-fi) applications, gaming platforms and on-chain trading.
While all ETH layer-2s stand to benefit from Dencun, Deutscher highlights several specific L2 altcoins that possess unique ecosystem catalysts alongside the advantages presented by EIP-4844
