Bitwise: Ethereum's Fusaka upgrade to bolster its role as a financial settlement layer

Investment firm Bitwise has stated that Ethereum's Fusaka upgrade, scheduled to occur today, will strengthen the network's role as an on-chain financial settlement layer, CoinDesk reports. According to Bitwise, the upgrade is expected to increase mainnet capacity and improve validator efficiency. The firm explained that the Layer 1 gas limit per block will rise to 60 million, boosting transaction throughput and reducing fee burdens. Bitwise projects that transaction throughput could approximately double over the next year as a result.