Ethereum Embraces NFTs: The Future Unfolds with Fusaka Launch
Ethereum Celebrates a Decade of Innovation with a Special NFT and Upcoming Upgrade
Ethereum is commemorating its 10th anniversary with a significant initiative that highlights both its community and technological advancements.
Launch of the Ethereum Torch NFT
On July 20, Ethereum unveiled a ceremonial “Torch” NFT, symbolizing the individuals and values that have influenced its decentralized evolution since its inception on July 30, 2015.
As stated on Ethereum’s official site, this NFT will traverse the global Ethereum community, akin to a ceremonial flame. It will be passed among selected community members, developers, and innovators who have contributed to Ethereum’s narrative over the past decade.
The inaugural torchbearer was Joseph Lubin, one of Ethereum’s co-founders, who held the NFT for a day before transferring it to Taiwan’s Digital Minister, Audrey Tang. Tang will retain the Torch for another 24 hours before passing it to another prominent figure within the Ethereum ecosystem. This relay will continue until July 30, when the NFT will be “burned,” allowing anyone to mint a commemorative token.
Upcoming Fusaka Hard Fork
While Ethereum reflects on its history, developers are also gearing up for the next major protocol upgrade, known as Fusaka, scheduled for November 2025.
This upgrade follows the recent Pectra fork and aims to enhance scalability and the overall robustness of the network. On July 17, Tim Beiko from the Ethereum Foundation announced that Devnet-3 for Fusaka would be launched on July 23.
The upgrade will test approximately 11 Ethereum Improvement Proposals (EIPs). However, one significant proposal, EIP-7907, which sought to expand the maximum size of smart contracts, was withdrawn due to concerns from core development teams.
Beiko emphasized that the Fusaka upgrade is targeting mainnet activation between November 5 and 12. The roadmap for this upgrade includes two successful testnets, initial bug bounty programs, and a stress test via the Holesky testnet.
Despite the preparations, there are ongoing concerns regarding the stability of the testnet and the readiness for audits. The Holesky upgrade is anticipated to be a crucial indicator of the network’s preparedness for full deployment, providing developers with essential insights while minimizing disruptions for users.
Conclusion
As Ethereum celebrates a decade of progress, it not only honors its past but also looks forward to a future filled with innovation and improvement. The launch of the Ethereum Torch NFT and the upcoming Fusaka upgrade signify a commitment to both community and technological advancement in the blockchain space.
