Massive Ethereum Update Is Here: All You Need to Know About Prague

The Ethereum network is on the cusp of a major upgrade, one that is set to bring significant improvements and changes to the platform. This upcoming update is called the Prague upgrade, also referred to as the Pectra upgrade, and has been a hot topic in the Ethereum community.

Testnets are essential staging grounds for new features, and the Dencun upgrade will first roll out across several testnets: Goerli on Jan. 17, Sepolia on Jan. 30 and Holesky on Feb. 7, 2024. These testnets will allow developers to fine-tune the upgrade in a controlled environment, ensuring everything operates smoothly before going live on the main network.

The core development team is currently in a debate over prioritizing the implementation of Verkle trees, a data structure that would optimize storage and access to information on Ethereum. While some developers advocate making Verkle trees the sole focus, others suggest pursuing a smaller feature fork alongside the Verkle development.

The main argument for concentrating solely on Verkle trees stems from their complexity and the time investment needed to implement them effectively. This could mean that if Verkle trees become the next priority, no new execution layer (EL) features might appear for 12 to 24 months, or possibly longer.

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Nevertheless, there is an understanding that even if the focus shifts to Verkle trees, minor updates to the Ethereum Layer (EL) might still be necessary. For example, changes to the gas limit for data availability are crucial for Ethereum's scaling solutions and require coordination across both the execution layer and the consensus layer (CL).

The Prague upgrade is set to include various proposals that aim to refine the Ethereum platform on different layers, including precompiles for specific cryptographic operations, a new EVM object format (EOF) and modifications to smart contract capabilities.

The Prague upgrade promises to be a significant event that will shape the future of the Ethereum ecosystem. It is a step forward in ensuring that Ethereum continues to offer a secure, efficient and scalable platform for decentralized applications.