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4 new features in the next Ethereum update: Shanghai




After the completion of Ethereum’s latest update, the Merge, the network’s developers met again. This time, the focus of the discussion was Shanghai, the name given to the next update. Among the expected new features is the enabling of ether withdrawals (ETH) from validator nodes and sharding (segmentation).

The latest AllCoreDevWhat such meetings are called which brings together the leading programmers of Ethereumwas held on October 27 via video conference.

For now, the first instances that this update would occupy are being discussed, toward the final arrival of Ethereum 2.0. The merger was just one of the many steps to be taken. The next phase to be completed will be “The Surge.” (or Surge).

As discussed at the meeting, there is still still being discussed as to how the final implementation will be. For now, the idea of segmenting the update into two small updates seems to be a winner. This is to avoid overloading the network.

Shanghai is scheduled for mid-2023as details are being worked out before its arrival.

Network withdrawals

One of the central points, located on the table of discussion in the different forums as reported by CryptoNews, are validator withdrawals.

Since the activation of the Beacon Chain in December 2020, users could register as validator nodes and earn returns for their bets ranging from 5 percent to 10 percent. However, the condition was that funds would be withheld until the Surge was activated. in the network.

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Now that the merger has been completed, developers are already managing the options to implement it. These are the EIP-4895That would allow for withdrawals. Also discussed was the EIP-3651 which allows a transaction to be created when a validator creates a block in order to receive the reward.

Sharding and Proto-Danksharding.

Sharding is one of the improvements that will be enabled in the network. Its implementation, in essence, Will segment the network into 64 shards (shard) and each will serve as a sidechain, which will have its own set of validators. This will distribute the transaction load over the network, avoiding saturation.

Sharding has received an update, known as Proto-sharding. This is what will eventually be included in Ethereum. The update corresponds to EIP-4844. However, during the meeting, developers of Ethereum clients Besu and Nethermind, expressed their concerns.

The concerns are based on the short development time, keeping in mind that Proto-danksharding is still subject to change. It could be a period of “tension and uncertainty,” explained Lukasz Rozmej of Nethemind.

Ansgar Dietrichs of the Ethereum Foundation countered that only minor changes remain before Proto-danksharding is ready, so it would not involve any substantial problems or changes to the algorithm..

EVM Update.

Ethereum’s virtual machine or EVM is responsible for executing all smart contract algorithms on the network. It functions as a kind of supercomputer. Running on a cryptocurrency network.

In the new Shanghai update, according to early plans, the partial activation of EVM object format (EOF). which offers improvements in smart contract execution time, as well as reducing commission costs.

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EOF originally requires several structural changes, but in Shanghai only the EIP-3540 and EIP-3670, which represent only part of the final EOF update.

During the meeting, developer Marius van de Wijden expressed concern about a partial EOF activation, rather than a full activation. Another group of developers, such as Tomasz Stanczak and Andrew Ashikhmin, commented that there should be no rush to activate Shanghaiand that if full activation does not proceed, EOF can wait.

How will Shanghai be activated

Traditionally, upgrades or forks in cryptocurrency networks, including Ethereum, are done by setting a block height on the blockchain. However, in the case of Merge, will be done through a threshold defined by the maximum difficulty achieved.

At the meeting, developers discussed how to set up the activation. It was suggested to set the height of an epoch consisting of 32 blocks.

Note that Shanghai will be the first update to use this methodology within Ethereum.. For this reason, developer Tim Beiko asked for further experiments on test networks before performing this on the main network.

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