Ethereum network
Updated
What it is
The Ethereum network is a decentralized, programmable blockchain that launched its mainnet in July 2015 and supports smart contracts underpinning most of the DeFi, stablecoin and tokenization ecosystem. It moved from proof-of-work to proof-of-stake consensus in "The Merge" on September 15, 2022, cutting energy use by roughly 99 percent. It is distinct from ETH, the asset used to pay transaction fees and secure the network through staking.
Why it matters lately
Ethereum's Fusaka hard fork activated on mainnet on December 3, 2025, bundling 13 EIPs centered on PeerDAS (EIP-7594) to scale layer-2 data availability, with blob-capacity increases following in stages into January 2026. Ethereum developers have since shifted focus to the next major upgrade, Glamsterdam, planned for 2026 as part of a new biannual upgrade cadence, though some 2026 reporting flagged risk to the Fusaka-era blob-capacity timeline as attention moved to Glamsterdam planning.
Asymmetric Analytics view
Inference (AA): Ethereum's shift to a predictable biannual upgrade cadence (Fusaka, then Glamsterdam) and its scaling of layer-2 data availability are structural inputs to AA's view of Ethereum's competitive position versus other settlement layers.