Ethereum Developers Plan To Start A New Public Testnet For The Shanghai Update Next Week
Staked Ethereum withdrawals will be available in the spring of 2023, with proto-danksharding following in the fall hard fork.
Today, Ethereum engineers determined that the network’s next hard fork, dubbed “Shanghai,” will be released in March 2023. This upgrade will incorporate EIP 4895 code, which will allow Beacon Chain staked ether (ETH) withdrawals.
Developers also agreed to address the EVM Object Format (EOF) implementation in Shanghai, which is a collection of EIPs that effectively enhance the Ethereum Virtual Machine, the environment in which Ethereum may execute smart contracts. EIP 3540, EIP 3670, EIP 4200, EIP 4570, and EIP 5450 are the Ethereum Improvement Proposals (EIPs).
If EOF is too complex to implement by the next All Core Developers call, scheduled for January 5, developers agreed to postpone EOF until the fall to avoid delaying staked ETH withdrawals.
In addition, developers committed to a second hard fork in the fall of 2023 to solve another critical scaling improvement – proto-danksharding, commonly known as EIP 4844. EIP 4844 would make Ethereum more scalable by sharding, a technology that divides the network into “shards” to boost capacity and reduce gas expenses.
The two forks will allow engineers enough time to focus on each issue, as well as relieve tension for those whose ETH (and any earned rewards) are locked in the Beacon Chain staking smart contract.
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