Ethereum developers discussed their next steps during a developer call. Interest in Ethereum from stakers and validators remained high despite market volatility.
After implementing Ethereum’s [ETH] Shapella Upgrade, developers have now shifted their attention to the upcoming update on the network.
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Developers stay focused
In a recent developer call, Ethereum developers were seen preparing for the next upgrade called Cancun. They discussed the final scope of the upgrade, which would focus on implementing blob transactions.
For context, Ethereum uses blob transactions to process information more efficiently. Blob transactions separate data from the transaction structure, enabling faster processing by eliminating unnecessary information, which is usually stored along with instructions. Ethereum is launching its fifth devnet next week to test these transactions.
Developers also talked about re-inserting blob transactions into blocks in the event of a chain reorganization.
They proposed two possible solutions, one of which would put a strain on the execution layer. Due to the complexity of the topic, it will be further explored in future meetings.
The Ethereum community also considered several changes for the upgrade, including EIP 4788, which allows smart contracts to access the Consensus Layer (CL) of the Beacon Chain state in the Execution Layer (EL).
In addition, EIP 6914 is also under consideration, which would reuse validator index numbers to reduce the spike in the validator list. However, EIP 6914 will be pushed to the next hard fork after Cancun due to its difficulty.
Another update, PR 3175, on the other hand, would prevent validators with slashes from proposing blocks while they are in the exit queue. This feature protects against high failure modes.
Finally, the developers talked about EIP 6493, which describes how nodes should handle blob transaction types that are formatted in SSZ (Simple Serialization) on the CL, but encoded differently on the EL.
Realistic or not, here is the market cap of ETH in BTC terms
State of Ethereum
Regarding the staking activity on Ethereum, it was noted that the number depositors weigh more heavily the number of strikers on the network. This showed that people still believed in the future of Ethereum.
The number of validators on the Ethereum network also continued to rise. Staking Rewards reported a 1.15% increase, bringing the total number of validators to 561,655 at the time of writing.
Source: Staking Rewards
This post Analyzing Ethereum [ETH] latest updates after Shapella and their relevance
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