Ethereum (ETH) Developers Have Made A Radical Change For Shanghai, The Next Big Update!

Ethereum (ETH) Its main developers have made several important decisions regarding Shanghai, the upcoming hard fork.

Changes Made to Open Withdrawals for Ethereum Stackers

The most important of these resolutions was the removal of all Ethereum Virtual Machine (EVM) Object Format changes, also known as Ethereum Improvement Proposals (EIPs).

Known as EOFs, these changes were intended to optimize ETH’s code execution environment. However, the developers decided to remove them from Shanghai to ensure that the withdrawals of the staked ETH tokens are not delayed.

Instead, the only major change that will come with the activation of Shanghai will be the opportunity for users to withdraw their Ethereum from the staking mechanism. To smooth the process and make it as efficient as possible, developers will launch public testnets in January.

In addition to these changes, the ETH core developers have also decided to reject any EIP that might be proposed to replace the EOFs on the Shanghai agenda.

Starting in January, Ethereum All Core Developers (ACD) Talks will be renamed ACD Execution (ACDE) talks, focusing on the execution layer of the ETH platform. A separate series of developer talks, called the ACD Consensus (ACDC) talks, will be dedicated to discussing the consensus layer of ETH.

During the initial ACDE discussion, the developers agreed to tentatively plan Shanghai for March 2023. The next ACDE meeting will take place on January 19th.

Shanghai’s implementation represents a significant change in the design of the ETH network and could have significant implications for both the technology and tokenomics of Ethereum.

*Not investment advice.