Ethereum Developers Outline Forthcoming Network Upgrades to Foster ETH Ecosystem Development

• The Shanghai Ethereum network upgrade will include eight Ethereum Improvement proposals(EIP).
• The shanghai upgrade is an important milestone, as it will allow holders to withdraw their staked ETH systematically.

On Thursday, Ethereum developers selected eight Ethereum Improvement Proposals (EIPs) to explore for the upcoming Shanghai hard fork. The Shanghai upgrade is expected to include proposals that improve scalability and the Ethereum Virtual Machine (EVM).

The Shanghai testnet version, dubbed Shandong, went live on October 18, allowing developers to work on implementations such as EVM object format. The testnet is used to explore and resolve any bugs related to some of these EIPs.

One of the most anticipated features of the Shanghai upgrade is the ability for holders to withdraw their staked ETH. This will make the network more scalable by freeing up ETH that is currently locked up in staking.

The Shanghai upgrade will also include a number of proposals to improve the EVM. These proposals aim to make smart contracts safer and more efficient.

The following are the eight EIPs that have been selected for consideration for the Shanghai hard fork:

• EIP-4844: This proposal introduces proto-danksharding, which is the first step towards making Ethereum more scalable through sharding. Sharding is a technique that divides the network into smaller pieces, which can improve performance and reduce gas fees.
• EVM Object Format (EOF): This proposal upgrades the Ethereum Virtual Machine to support a new object format that is more efficient and secure.
• EIP-3540: This proposal introduces a new opcode that allows for more efficient gas usage in smart contracts.
• EIP-3670: This proposal introduces a new opcode that makes it easier to create secure smart contracts.
• EIP-4200: This proposal introduces a new opcode that makes it easier to create efficient smart contracts.
• EIP-4570: This proposal introduces a new opcode that makes it easier to create secure and efficient smart contracts.
• EIP-5450: This proposal introduces a new opcode that makes it easier to create secure and efficient smart contracts.
• EIP-2537: This proposal introduces a new precompile that allows Ethereum to create more secure cryptographic proofs.

The developers will continue to evaluate these EIPs and others in the coming weeks. It is expected that the Shanghai hard fork will be implemented in early 2023.