According to JPMorgan analysts, Ethereum is likely to outperform Bitcoin and other cryptocurrencies by 2024 thanks to upcoming updates to the blockchain.
The bank's experts have said:
"We believe that next year Ethereum will re-assert itself and recapture market share within the crypto ecosystem. The main catalyst is the EIP-4844 upgrade or Protodanksharding."
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The solution includes the creation of a more efficient form of sharding, without splitting the network into small fragments.
Apparently, as part of the upgrade, a BLOB transaction format will be introduced: temporary packets of data attached to blocks, which contain more information than blocks, but are not stored permanently and are not EVM-compliant.
According to JPMorgan, the upgrade is especially useful for second-layer networks such as Arbitrum and Optimism, as it provides additional storage space, increases protocol performance and reduces fees.