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The original was posted on /r/cryptocurrency by /u/travelerlifts07 on 2024-01-21 02:57:46+00:00.
Source: Coinbase Bytes Newsletter
Copied and paste from it since no images are allowed here anymore:
Ethereum fees could fall dramatically
In the coming months, Ethereum is expected to launch its EIP-4844 upgrade, which, according to a prediction from asset manager VanEck, will "reduce transaction fees and improve scalability for layer 2 chains such as
Polygon, Arbitrum, Optimism."The upgrade, also known as proto-danksharding, is the next evolution of technology that splits the network into many "shards" to allow for ever faster transactions. Bitwise predicts the upgrade could drive the average fee per transaction down from around $0.14 on "low-cost Layer 2 blockchains" to below $0.01: "A 90%+ reduction in the cost to use Ethereum will radically increase the types of activities individuals can feasibly participate in on the network." This potential leap has JPMorgan predicting that ETH could outperform bitcoin and other cryptocurrencies in 2024.
Governments will adopt blockchains
Belgium plans to use its 2024 presidency of the European Union Council to push for building a trans-national blockchain that will be used to store things like driver's licenses and property titles for EU residents.