New Order DAO Announces 5 Ethereum (ETH) Forecast for 2023!

Leading start-ups in the field of decentralized finance (DeFi), New Order DAO said in a statement. Ethereum (ETH) and made 5 predictions about its ecosystem.

New Order DAO Outlines Its Forecasts For The Ethereum Ecosystem

The DAO’s initial prediction is that the bear market isn’t over yet. They listed their expectations as follows:

“First, we expect the emergence of FTX positions and failed crypto companies to continue to negatively impact crypto markets throughout the year. Liquidity issues and bankruptcies in both CeFi and DeFi services will likely continue to be discovered as bankruptcy and criminal cases progress.

Secondly, the breach of trust experienced in this bankruptcy process will significantly set back regulatory progress, investor activity and consumer confidence.”

Despite this, the platform also announced that they are optimistic for 2023.

“EigenLayer Will Be The Most Important Innovation In The ETH Ecosystem”

According to the predictions of the platform, EigenLayer will be the most important innovation of the year in the Ethereum ecosystem.

EigenLayer is a smart contract layer on Ethereum that allows users to leverage an existing trust network to secure other underlying infrastructure and middleware layers through re-staking.

Re-staking is essentially the use of ETH used for Ethereum network authentication to secure other networks. This allows ETH stakers to have much more flexibility with their staked capital, while extending the trust layer to perimeter infrastructures such as sidechains, middleware, and even other non-Ethereum networks.

“Blob Transactions Won’t Solve Scalability Issues”

Also, the DAO estimates that Blob operations will not be able to resolve scalability issues.

Blob operations introduce a new data format for calldata (on which rollups depend) that cannot be accessed by the EVM application, but instead contains large amounts of additional data accessible only for commits.

According to the DAO’s fourth forecast, ZK-Rollups will not receive significant attention in 2023.

According to the latest estimation of DAO, Layer 3’s will be the real rival of Cosmos.

Layer 2s (L2s) improve the scalability of Ethereum by reducing gas fees and increasing throughput. Because of these scalability factors, tradeoffs arise and L2s must choose to optimize for certain items. Layer 3s (L3s) are application-specific blockchains built on top of L2s that aim to reduce these tradeoffs and make further improvements.

*Not investment advice.