Ethereum Developers Offer 8 EIPs for Shanghai Update

Ethereum developers are proposing eight Ethereum Improvement Proposals (EIPs) to explore the Shanghai update, the next major upgrade, as announced by the Ethereum Foundation on Nov. 24.

Developers are deciding what features to include in the next hard fork, which will be released in the second half of 2023, as the Ethereum Foundation’s JavaScript team posted on Twitter:

One of the key features expected in the Shanghai hard fork is the Beacon Chain staked Ether (ETH) that will unlock and enable asset withdrawals. This means that users who staked Ethereum before the Merge will have access to those tokens. As with other rewards, with the previous timeline, locked ETH is expected to be reached 6-12 months after the Merge.

One of the approved proposals is EIP 4844, which focuses on leveraging the technology. proto-danksharding It is expected to increase network throughput and reduce transaction fees. This is a significant improvement for scalability. Other EIPs will be upgrades for Ethereum Virtual Machines, including EIP 3540, EIP 3670, EIP 4200, EIP 4570, and EIP 5450.

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