Home CryptocurrencyAltcoin Ethereum developers have decided on eight proposals for the Shanghai update

Ethereum developers have decided on eight proposals for the Shanghai update

by SuperiorInvest

Developers from the Ethereum Foundation have decided on eight Ethereum Improvement Proposals (EIPs) to explore in the next Shanghai update. major post-merger upgrade and its transition to proof-of-stake consensus, the Ethereum Foundation announced on November 24.

On the weekly call, developers decided what features should be included in the next hard fork, which will be released in the second half of 2023. According to the Ethereum Foundation JavaScript team on Twitter:

One of the main features expected to be part of the Shanghai hard fork, the Beacon Chain Stacked Ether (ETH), is set to be unlocked, which will allow assets to be downloaded with the upgrade, meaning users with staked Ethereum before the merge will have access to these tokens as well as any other rewards. The previous timeline assumed that the locked ETH would be available 6-12 months after the merger.

Among the approved proposals is EIP 4844, which focuses on the use of proto-danksharding technology and is expected to increase network throughput and reduce transaction fees, a significant improvement in scalability. Other EIPs address the upgrade of Ethereum virtual machines, including EIP 3540, EIP 3670, EIP 4200, EIP 4570, and EIP 5450.

The Shanghai testnet version, called Shandong, was launched on October 18 and allows developers to work on implementations such as the Ethereum Virtual Machine (EVM) object format. chain validators.

As previously reported by Cointelegraph, it was a merger the first step in this five-part processwhich has been ever since specified by number Ethereum developers, ecosystem participants and commentators. Merge’s key change is a drastic reduction in power consumption, which should reduce Ethereum’s power consumption by 99%.

Source Link

Related Posts

%d bloggers like this: