Ethereum’s Shanghai Upgrade Only a Small Step Forward: Bank of America
Ethereum first introduced the idea of blockchain operating systems compatible with smart contracts and decentralized applications, but the platform suffers from limited throughput despite benefiting from this first-mover advantage, Bank of America (BAC) said in a research report from last week. The Shanghai upgrade (aka Shapella), due to occur later today.
The Shappella upgrade does not address scalability, “but acts as a precursor for future upgrades, providing a small step forward,” analysts Alkesh Shah and Andrew Moss wrote. Bank of America sees Ethereum upgrades as “significant technological accomplishments, but not necessarily more significant or advanced than those implemented by next-generation blockchains that have emerged as viable alternatives.”. The bank says Ethereum’s likely inability to increase throughput in the short term, and increasing competition from alternative blockchains will constrain its adoption and usage.
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