Some friends are surprised, why is the discussion on Ethereum Fusaka upgrade so low? Because unlike previous PoW to PoS upgrades and Dencun upgrades, this upgrade is a typical "engineering optimization" without conceptual gimmicks or paradigm innovation. It only solidly reduces costs, improves efficiency, optimizes experience, and solves some specific problems: Isn't this the state that a mature public chain should have? Come on, let's see what exactly Fusaka can bring? 1) The cost of L2 has been significantly reduced. At present, the main expense of L2 is the DA cost of publishing data to L1. Fusaka has reduced the cost of L2 by half through Blob expansion by 8 times and random sampling verification with PeerDAS. Many people have become desensitized to lowering L2 fees, believing that the main obstacle to L2 is ecological activity. Simply reducing fees is meaningless. However, if we shake off the thinking of general L2 in the past and look at it from the perspective of specific dedicated application chains, the meaning is completely different. For example, the @ Arbitrum fee reduction has a direct impact on its RWA infrastructure activity, the @ base fee reduction has a direct impact on the development of x402 payment ecology, and the upcoming expansion of @ megaeth in high-frequency DeFi and gaming application scenarios; The market should not only focus on how much L2 costs have been reduced, but also on which high-frequency application scenarios have been activated due to cost reduction; 2) Blob fee market normalization, ETH Burn expected to be reignited 。 Due to the cost reduction of Blob after Dencun upgrade, the mainnet once lost the ability to be fed back by L2, and Ethereum also shifted from a deflationary state to micro inflation. Fusaka introduces the minimum Blob base fee (EIP-7918), which means that even if Blob demand is low, L2 has to pay the lowest toll and ETH needs to be burned. This is actually returning to normal. Once the daily average burn amount of ETH after upgrading returns to the level before Dencun upgrade, the expected deflation trajectory of ETH will not be far away, and the long-term narrative of ETH as the anchor of global settlement layer value can stabilize its foothold; 3) The Gas Limit has been increased to 60M, resulting in a significant increase in L1 throughput. Under the current public chain narrative of constantly increasing TPS by 100000, people naturally feel indifferent to the narrative of Ethereum improving TPS by tens or hundreds. But don't forget, that Ethereum, which you have insulted as halal, is really going to improve its TPS, and it has changed its previous slow and leisurely state of Buddhist style. Its execution efficiency has exploded, and the key is to confront @ solana head-on. In addition, its long-term strategy of simplifying Ethereum to improve L1 performance, how can we not give it a thumbs up! Essentially, Ethereum used to be a single leg strategy of Rollup Centric, which was too constrained by the L2 track. However, now the dual track parallel promotion strategy of L1 settlement+L2 execution has both tension and relaxation, and more room for imagination. 4) PeerDAS lowers the verifier threshold by 85%. I think this is the most easily overlooked but profound change for Fusaka. With the random sampling of a small portion of data verification mechanism, the decentralization level of Ethereum Validators will be substantially improved, which also responds to @ VitalikButerin's previous concerns about institutional control over Ethereum. To some extent, PeerDAS is actually a lightweight implementation of Ethereum's sharding concept, achieving various goals of the pie chart sharding strategy, including reducing node burden, improving network scalability, and enhancing decentralization. In addition, the greater significance of PeerDAS lies in completely dismantling the technical barriers for institutions to enter, such as participating in node operation and maintenance, pledging, and other compliance related businesses. When TradFi giants such as Fidelity and BlackRock can deeply participate in the economic activity contribution of Ethereum, it is the true starting point of the Ethereum ecosystem's explosion; The above. The question is, is it worth believing in a more mature, robust, efficient ETH that can also have institutional expansion, L1+L2 dual track development, and capture micro deflationary value again?