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Ethereum developers chose eight updates for Shanghai

The Ethereum Foundation made the announcement on November 24 that the developers working on the platform had reached a consensus on eight Ethereum Improvement Proposals (EIP) to investigate as part of the Shanghai update. This update is the next major upgrade following the Merge and the transition to proof-of-stake consensus.

Beacon Chain staked Ether (ETH) is scheduled to be unlocked as one of the primary features that are anticipated to be included in the Shanghai hard fork. This will make it possible for the assets to be withdrawn along with the upgrade, which means that users who had staked Ethereum prior to the Merge will be able to access those tokens in addition to any other rewards that may be available.

According to a prior roadmap, unlocked ETH was supposed to become available between 6 and 12 months following the Merge.

One of the ideas that was accepted is known as EIP 4844. This proposal focuses on using proto-danksharding technology, and it is anticipated that it would increase network throughput while simultaneously reducing transaction costs, which will be a big gain for scalability.

Other EIPs, such as EIP 3540, EIP 3670, EIP 4200, EIP 4570, and EIP 5450, deal with the modernization of Ethereum Virtual Machines.

One of the most-anticipated updates for the community is the Shanghai testnet version, which was given the name Shandong and went live on October 18. This version enables developers to work on implementations such as the Ethereum Virtual Machine (EVM) object format. This update is one of the most-anticipated updates because it separates coding from data, which may be beneficial for on-chain validators.

Ethereum Improvement Proposal 4844 Implementor Call: Deneb API Versioning, Execution Header Updates, and Devnet 6 Planning

Terence.eth, a well-known Ethereum Community Developer, shared significant updates following the recent Ethereum Improvement Proposal (EIP) 4844 implementor call. The updates centered on three main areas: Deneb engine API versioning, the addition of data_gas_used to the execution header, and Devnet 6 scope and testing.

For Deneb engine API versioning, the discussion focused on addressing its complexities. The engine API supports the older version, and while this helps the new version to function with the previous one, it adds to the intricacy of the specifications, testing, and EL client implementation. To mitigate this, a proposal to restrict versioning to a 1:1 mapping was tabled, limiting backward compatibility.

In line with EIP1559, the need to add data_gas_used to the execution header was highlighted. Currently, data gas computation uses the parent header, not the current one, which some EL clients do not maintain. A proposal to add a new field, data_gas_used, to the payload was made to enhance consistency and avoid confusion.

On Devnet 6, it was agreed that the new data_gas_used changes will apply across the board to the EL spec, CL spec, and Engine-API spec. Plans to introduce data_gas_used for Devnet 6 were well-received, along with an additional EIP4844 enslave devnet before transitioning to the testnet.

Ethereum Core Developers Set Electra Upgrade, Plan Dencun Activation

In a gathering on February 22, 2024, Ethereum’s core developers held their 128th All Core Developers Consensus (ACDC) call. The bi-weekly meeting, chaired by Danny Ryan, an Ethereum Foundation researcher, serves as a collaborative platform for discussing and planning the network’s consensus layer changes.

Electra Upgrade Agendas

Central to the meeting was the Electra upgrade, a concerted effort to refine Ethereum’s infrastructure. Three Ethereum Improvement Proposals (EIPs) were agreed upon for inclusion: EIP 6110, designed to provision validator deposits on-chain; EIP 7002, facilitating execution layer triggerable exits; and EIP 7549, which aims to segregate the committee index from attestations. The developers also considered EIP 7547, related to inclusion lists, which could be included in the Electra upgrade if it meets the criteria for ease of implementation.

Imminent Dencun Upgrade Rollout

All Ethereum clients, barring the Lodestar client, have rolled out their final versions in preparation for the Dencun upgrade. The Ethereum Foundation’s DevOps Engineer, Parithosh Jayanthi, reported the successful launch of the final mainnet shadow fork for Dencun, signaling a stable transition. With the mainnet activation date announced for March 13, 2024, developers are confident in a smooth rollout, further supported by the Flashbots team’s planned release of a Dencun-ready MEV-Boost software update.

Debate Over Issuance Curve Adjustment

The meeting also featured a proposal from EF Researcher Ansgar Dietrichs calling for a 30% reduction in staking rewards issuance. This recommendation stems from concerns about the high staking ratio’s impact on network load, ETH value dilution, and dependency on third-party protocols for security. While the proposal’s technical implementation is straightforward, its ramifications warrant thorough discussion within the community.

Enhancing Light Client Compatibility

The call highlighted Etan Kissling’s proposal to update execution layer serialization formats to Simple Serialize (SSZ), aligning with the consensus layer and bolstering light client development. This initiative is vital for nodes operating with minimal computational resources, ensuring a more inclusive and efficient network.

Conclusion

The ACDC call #128 signifies a proactive approach to Ethereum’s development, with the Electra upgrade shaping to be a critical milestone. The discussions around issuance curve adjustments underscore the community’s focus on sustainable and efficient network economics. As Ethereum continues to evolve, these upgrades and proposals are set to enhance its infrastructure, ensuring its long-term viability as a leading blockchain platform.