Fusaka is an upcoming hard fork and major network upgrade for the Ethereum blockchain, tentatively scheduled for release in November 2025. This upgrade aims to enhance the network's efficiency, scalability, and security, building upon previous improvements introduced in earlier hard forks such as Pectra. ^[1]

Overview

The Fusaka hard fork represents the next significant step in Ethereum's ongoing development roadmap, following approximately six months after the Pectra upgrade. Its primary objective is to improve the overall performance and resilience of the Ethereum network. The upgrade is expected to integrate a set of Ethereum Improvement Proposals (EIPs) designed to optimize various aspects of the blockchain, from transaction processing to smart contract execution. ^[2]

Technology

The Fusaka upgrade is anticipated to include 11 Ethereum Improvement Proposals (EIPs) aimed at enhancing the network's capabilities. A key proposal among these is EIP-7825, which is designed to bolster network resilience against malicious attacks while also contributing to overall scalability improvements.

However, not all initially considered proposals will be part of the Fusaka release. EIP-7907, which aimed to double the contract code size limit and introduce gas metering, has been excluded to streamline the testing process and avoid potential delays. Similarly, the controversial EVM Object Format (EOF) upgrade, which proposed an overhaul of the Ethereum Virtual Machine (EVM) to simplify smart contract development, was officially removed from Fusaka due to technical uncertainties and community pushback regarding its complexity and implications. The decision to remove EOF was made to prioritize other critical features like PeerDAS, which focuses on enhancing Ethereum's scalability and data availability, and to ensure the upgrade's timeline is not jeopardized.

A significant proposed change under consideration for Fusaka is the increase of the Ethereum gas limit to 150 million. This adjustment is intended to enhance network throughput and support more complex operations, potentially reducing transaction costs and improving scalability. ^{[1] [2] [3] [4] [5] [6]}

Development and Timeline

Preparations for the Fusaka hard fork are actively underway. A new development network (devnet) was launched on July 23, 2025, with public testnets scheduled to follow in September and October. Developers are targeting a mainnet launch in early November, ideally before the Devconnect event, which is set to take place from November 17–22 in Buenos Aires, Argentina.

Despite the ambitious timeline, some members of the Ethereum community have expressed concerns about meeting the proposed launch date. Nixo, an Ethereum protocol support member, noted the tight schedule required to ship the upgrade before Devconnect, emphasizing the need for client releases within a short timeframe. The development roadmap includes plans for two successful testnets, early bug bounty programs, and a stress test via the Holesky testnet, which is expected to be a crucial indicator of the network's readiness for full deployment. ^{[1] [8] [9] [7]}

Future Upgrades

Following Fusaka, attention is already turning to the subsequent Ethereum upgrade, codenamed Glamsterdam. Proposed features for Glamsterdam are expected to be confirmed during the AllCoreDevs – Execution meeting on August 1. One notable proposal for Glamsterdam, put forth by Ethereum core developer Barnabé Monnot, suggests halving Ethereum's block time from 12 seconds to six seconds. If adopted, this change could significantly enhance the performance and user experience of decentralized applications (dApps) and is currently slated for inclusion in the Glamsterdam upgrade, which is anticipated in 2026. ^{[1] [10] [2]}

Regulatory Discussions

In parallel with the technical developments, the U.S. Securities and Exchange Commission (SEC) recently engaged in discussions with key blockchain industry stakeholders, including representatives from Ethereum-aligned organizations such as the ERC-3643 Association, Chainlink Labs, the Enterprise Ethereum Alliance, and LF Decentralized Trust. The meeting focused on exploring potential token standards that could facilitate the compliant issuance and transfer of tokenized securities.

The discussions primarily revolved around integrating open standards like ERC-3643 and compliance frameworks such as Chainlink’s Automated Compliance Engine (ACE) into the existing regulatory landscape. ERC-3643 is a token standard designed for compliant capital markets on Ethereum, while Chainlink’s ACE provides a smart-contract-based compliance framework for managing tokenized assets, including securities and real-world assets.

Dennis O’Connell, president of the ERC-3643 Association, indicated that the meeting signaled a notable shift in the SEC's approach, demonstrating increased engagement and a willingness to understand how blockchain standards can align with regulatory oversight. He noted that the discussions helped illustrate how standardized frameworks could enable regulatory compliance while fostering innovation.

Following the meeting, SEC Chair Paul Atkins suggested that the agency is considering an "innovation exemption" within its regulatory framework to support tokenization. Atkins acknowledged the inevitable migration of assets onto blockchain networks and indicated that the SEC might implement changes to accommodate new trading methods tailored for tokenized securities. ^{[11] [12] [13] [14]}

Economic Considerations

The proposed increase in the Ethereum gas limit to 45 million has garnered significant support from validators, with Ethereum co-founder Vitalik Buterin noting that nearly 50% of staked ETH has signaled in favor of this change. This increase, from the current cap of 37.3 million, is expected to help reduce transaction costs and improve network scalability. However, some community members have raised concerns that a substantial increase in the gas limit could potentially lead to greater network centralization, as it might increase the burden on solo validators who may struggle to meet the new demands of the blockchain.

In the broader market context, Ethereum's price recently reached a seven-month high of $3,745, marking a 27% increase in a week due to strong investor accumulation. Over 317,000 ETH, valued at more than $1.18 billion, were removed from exchanges in July, indicating a holding trend and reduced market supply. On-chain metrics, such as the Network Value to Transactions (NUPL) ratio entering the "belief-denial" zone, suggest that holders are beginning to realize profits, which historically can precede short-term corrections. ^{[15] [16]}