The Ethereum Shanghai upgrade, the next major upgrade after The Merge, is scheduled for the second half of 2023. This upgrade will be another milestone as it will allow people who stake Ether to withdraw their funds in a stable manner. system and make the network more scalable.
In addition to significant scalability upgrades This milestone also includes Ethereum (EIP) improvement proposals, including the EIP-3651, EIP-3855, and EIP-3860. Among the upcoming improvement proposals, the so-called EIP-3651 WARM Coinbase could be. A game changer that can help reduce network fees for core network participants called builders.
Coinbase is the name of the software that builders use to get new tokens on the network. Every new transaction on the platform requires multiple interactions with the Coinbase software, and the first interaction costs more from the warm up, then the fee decreases as the interaction increases. However, with the introduction of EIP- 3651 Coinbase software will continue to warm up in the beginning but will use a lower fee to access
The builders are responsible for putting Ethereum transactions into blocks known as block builders, where these transactions are forwarded to validators, where they are properly sequenced in the blockchain.
These builders are paid by traders to handle block transactions in a certain order, meaning traders have to pay higher fees for their transactions to be reviewed first. Flashbots is currently the largest builder in the Ethereum ecosystem. Make up 80% of relayed blocks.
The testnet version for the Shanghai upgrade, known as Shandong, went live on Oct. 18, and Ethereum developers will be working on various implementations. Until September 2023
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