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Ethereum (ETH) Developers Agree on the Eight Proposal Upgrades for the Shanghai Hardfork

Ethereum developers have decided on the eight Ethereum Improvement Proposals (EIPs) to be included in the Shanghai hardfork. It is the first major network upgrade since...
Ethereum (ETH) Developers Agree on the Eight Proposal Upgrades for the Shanghai Hardfork © Reuters Ethereum (ETH) Developers Agree on the Eight Proposal Upgrades for the Shanghai Hardfork
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Ethereum developers have decided on the eight Ethereum Improvement Proposals (EIPs) to be included in the Shanghai hardfork. It is the first major network upgrade since the Ethereum merge in September.

Ethereum Developers Agree on Eight EIPs for Shanghai

On Thursday, November 24th, Ethereum developers agreed on eight EIPs to be considered in the Shanghai hardfork, which is currently being tested on the Ethereum testnet.

The Ethereum Foundation developers will run the eight EIPs considered for inclusion through tests on developer networks (devnets). However, there is no guarantee that all eight will be deployed with the hardfork.

What Should you Expect from the Shanghai Hardfork?

EIP 4895 is the most anticipated proposal to launch with Shanghai. As earlier reported, the proposal will allow holders to withdraw their staked ETH systematically and make the network more scalable.

EIP 4844 (proto-danksharding) is the first step Ethereum would take toward making the network more scalable through sharding to boost network throughput and slash fees. EIP 2537 seeks to add ‘BLS precompile’ to the Ethereum network.

The other five proposals – EIP 3540, EIP 3670, EIP 4200, EIP 4570, and EIP 5450 will focus on upgrading the Ethereum Virtual Machine (EVM). They will make changes to make the smart contract execution safer.

On the Flipside

  • Although Shandong – the Shanghai testnet version – went live on October 18th, developers failed to agree on the timeline for the deployment of the hardfork.

Why You Should Care

The launch of Shanghai will mark the beginning of a new phase for the Ethereum network, with better scalability and lower transaction fees.

Read more on the withdrawal of staked ETH below:

Withdrawals for Staked Ethereum Enters Testnet Stage, ETH Price Jumps 10%

Other Ethereum developments are covered below:

Ethereum Name Service (ENS) DAO Selects Karpatkey as Its Endowment Fund Manager

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    EUR/USD 1.0349 ↑ Sell  
    GBP/USD 1.2048 ↑ Sell  
    USD/JPY 138.43 ↑ Sell  
    AUD/USD 0.6679 ↑ Sell  
    USD/CAD 1.3458 ↑ Buy  
    EUR/JPY 143.27 ↑ Sell  
    EUR/CHF 0.9800 ↑ Sell  
    Gold 1,748.75 ↑ Sell  
    Silver 21.195 ↑ Sell  
    Copper 3.5510 ↑ Sell  
    Crude Oil WTI 73.93 ↑ Sell  
    Brent Oil 81.16 ↑ Sell  
    Natural Gas 7.175 ↑ Sell  
    US Coffee C 164.40 ↑ Sell  
    Euro Stoxx 50 3,962.41 ↑ Buy  
    S&P 500 4,026.12 Neutral  
    DAX 14,541.38 ↑ Buy  
    FTSE 100 7,486.67 ↑ Buy  
    Hang Seng 17,170.00 ↑ Sell  
    Small Cap 2000 1,869.19 ↑ Buy  
    IBEX 35 8,416.60 Sell  
    BASF 49.605 Neutral  
    Bayer 55.45 Sell  
    Allianz 205.35 ↑ Buy  
    Adidas 123.98 Neutral  
    Lufthansa 7.567 ↑ Sell  
    Siemens AG 132.06 ↑ Buy  
    Deutsche Bank AG 10.390 ↑ Buy  
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