At the Execution Layer Meeting delivered on March 16, 2023, Ethereum developers announced that they plan to upgrade the blockchain on April 12, 27 days after announced. Known as the Shanghai-Capella upgrade or Chapella, this upgrade will include the implementation of the Beacon chain push drawer. This will allow the ethereum network validator to support withdrawal operations with ruleset changes.
The ethereum validator’s withdrawal operations and fee optimization enhancements will go live in 27 days
At the time of writing, Beacon’s chain contract holds17,680,535 ether, worth $29.33 billion using today’s Ethereum exchange rate.The upcoming upgrade called Shapella, through Ethereum Improvement Proposal (EIP) 4895, allows the Beacon chain to operate push withdrawals The EIP will allow the Beacon chain to be used as a
According to the EIP-4895documentThis “supports validator pull-out from the Beacon chain to the EVM via a new “system level” operation type”. In addition, the summary notes that the EIP-4895 architecture “is ‘push’ rather than ‘pull’ based, and withdrawals must be processed at the execution layer as soon as they are dequeued from the consensus layer.”
Ethereum’s latest upgrade was originally scheduled for this month, but the consensus change was postponed.26} During Thursday’s execution layer meeting, Ethereum developers announced that the upgrade is now scheduled for April 12, 2023 They announced that.
In addition to the proposed Beacon chain push drawer, the upgrade will implementEIP-3651 , EIP-6049, EIP-3860
andEIP-3855. These enhancements are intended to optimize rates, such as “limiting the maximum size of initcode to 49152 and applying an additional gas cost of 2 per 32-byte chunk of initcode,” as described in EIP-3860.
Recently, Ethereum developers tested the upgrade on several test nets. On Tuesday, developers completed,, andthe Goerli testnet upgrade. This was the final step before launching Shapella on the mainnet.
How do you think the upcoming ethereum upgrade and implementation of the Beacon chain push drawer will affect the future of the ethereum network and its users? Share your thoughts on this topic in the comments section below.
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