According to JPMorgan Ethereum is not performing well after Shanghai Upgrade

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According to JPMorgan Ethereum is not performing well after Shanghai Upgrade

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Ethereum is the second most popular crypto currency. Ethereum has had an upgrade recently known as Shanghai Upgrade. After the upgrade the price has not been moving well. Taking that into consideration JP Morgan spoken about the performance of Ethereum.

What was the Shanghai Upgrade?

Recently Ethereum had an upgrade in Shanghai. Since the upgrade took place in Shanghai, the upgrade is called Shanghai Upgrade. After the upgrade the Ethereum is not performing well. It was expected Ethereum to perform much better than before. It didn't actually happen. This is why JP Morgan is thinking about Ethereum. Let us discuss why Ethereum is not performing as desired. Source

Technical problem: After the upgrade Ethereum should have been faster but now Ethereum is facing technical issues. Like network is too slow and it can not handle the pressure of heavy traffic.

Competitors everywhere: Ethereum is well known for token generation and creating smart contracts. In practice Ethereum is getting overburdened with such things. As a result, the network is clumsy and expensive too. But there are many coins like Ethereum those provides same utilities with low prices.

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DeFi issues: DeFi is using Ethereum to carry out financial matters with banks. In this DeFi is facing various problems and making Ethereum guilty for all those.

Environment aspect: To mine Ethereum miners require to use electricity. To produce electricity environment is used as a source of energy which in turn leads Ethereum to a discomfort zone among conscious people.

How to overcome these problems?

Ethereum needs to handle stress in a better way and become cheaper. Ethereum developers are thinking to bring a new upgrade which can address all these problems. This new upgrade will be called Ethereum 2.0.

Ethereum 2.0 is designed to be energy efficient and faster. It will run on a beacon chain. So transactions fee will gradually reduce, this making Ethereum great again.

New change is very much necessary to survive in the modern world. Crypto currency market is undergoing tremendous pressure like never before. Ethereum needs to be compatible to withstand future pressures.

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Deduction:

Concern of JP Morgan is real about Ethereum. People are frustrated with Ethereum and shifting to other chains. So Ethereum needs to be upgraded to account for the issues.

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