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Ethereum Shanghai Upgrade Details Unveiled by EF: EVM, Fees, What Else?

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Sat, 03/26/2022 - 14:45
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Vladislav Sopov
Ethereum (ETH) engineers shared protocol of All Core Devs #10 meeting with latest updates on Kiln testnet and next Ethereum (ETH) fork, Shanghai
Ethereum Shanghai Upgrade Details Unveiled by EF: EVM, Fees, What Else?
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The largest smart contracts platform, Ethereum (ETH), is getting closer to a transition to Proof-of-Stake (PoS) consensus, i.e., The Merge. Ethereum Foundation unveils the details of its testing and next upgrade design.

New EVM, reconsidered Beacon Chain withdrawals: What changes in Shanghai?

Mr. Tim Beiko, high-profile Ethereum (ETH) developer and researcher, has published a summary of All Core Devs (ACD) meeting #10. The document describes the latest progress on pre-Merge testnet Kiln and the next steps in Ethereum (ETH) development.

The Kiln testnet recently launched as the final testing phase before The Merge. Following the crucial Kintsugi testnet, it is designed to experiment with transactions and infrastructure. Once Kiln is closed, Merge processes will be emulated in major public Ethereum (ETH) testnets such as Ropsten, Goerli, Sepolia and so on.

Mr. Beiko stressed that the security of the transition is a top priority for the ACD community:

While we are close, and this is an incredibly exciting moment for the entire community, the safety of transition, more than any target date, is the #1 priority for The Merge.

Then, Ethereum (ETH) engineers started working on the Shanghai upgrade. Its agenda includes the introduction of EVM Object Format or EOF, a new type of smart contracts with advanced functionality.

The activation of Shanghai will implement  EIP-4895, which enables Beacon Chain withdrawals. The partial withdrawal option will allow Ethereum (ETH) stakers to withdraw rewards, leaving 32 ETH deposits untouched.

Ethereum (ETH) to reduce fees on its L2s: Here's how

Reduced fees for Ethereum's L2s are among the most impressive novelties of Shaghai hardfork. It was decided to reduce the cost from 16 gas per byte of CALLDATA (crucial Ethereum function) to 3 gas/byte.

Then, EIP-4844 would implement a novel Shard Blob Transactions design. As covered by U.Today previously, it paves the way to full-fledged sharding in novel Ethereum (ETH).

Related
Ethereum's Vitalik Buterin Comes with New Sharding Proposal: What is EIP-4844?

In April, Ethereum (ETH) developers are going to finalize implementations, run multiple short-lived devnets and work with community feedback.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)