Introduction to Ethereum Shanghai Upgrade 🎉
A big upgrade is on its way and it’s called the Shanghai Upgrade. This upgrade promises to bring several improvements to the Ethereum network, making it more efficient, consistent and upgradeable. The upgrade is slated to happen in March 2023, and it’s a highly anticipated event in the Ethereum community. Let’s see what we have!
For all the information used in writing this article, we compiled it from ACD wrote by Ethereum Foundation’s Tim Beiko. If you want to learn more, you can refer to the following links for additional information!
Beacon Chain Stake and Withdrawal 💰
One of the key features of the Shanghai Upgrade is the introduction of withdrawal capabilities for Beacon Chain stakers. Currently, Beacon Chain stakers can only stake ETH, but with the upcoming EIP-4895, they will now be able to withdraw their stakes as well. This is a top priority for the upgrade and is expected to bring a lot of excitement to the Ethereum community.
Ethereum Object Format (EOF) 💻
Another major highlight of the Shanghai Upgrade is the Ethereum Object Format (EOF). EOF is a suite of 5 Ethereum Improvement Proposals (EIPs) that promises to make Ethereum execution more efficient, more consistent, and more upgradeable. EOF is the first upgrade in the Ethereum Virtual Machine’s (EVM) history and it’s a big step forward for the Ethereum network. Here are the key EIPs that make up the EOF:
- EIP-3540: Changes the structure of EVM instructions, making it easier to upgrade the EVM.
- EIP-3670: Introduces code validation for smart contracts during deployment, saving execution costs.
- EIP-4200: Improves the efficiency of the Ethereum stack machine, leading to lower gas fees.
- EIP-4750: Introduces functions that the stack machine can perform, making programs more efficient.
- EIP-5450: Validates contracts during deployment, preventing stack overflows and underflows.
How it Could Impact Developer Experience? 👨💻
The Shanghai Upgrade and EOF in particular, has the potential to significantly improve the developer experience on the Ethereum network. With code validation during deployment, efficient stack machine operation, and easier upgradability, developers can expect their smart contracts to run more smoothly on the network. Additionally, the introduction of withdrawal capabilities for Beacon Chain stakers is also a big win for developers who have been eagerly waiting for this feature.
Can I try Ethereum Shanghai? 🤔💻
Yes, you can try Ethereum Shanghai! 🚀 As of now, We have a public testnet for the upcoming Ethereum Shanghai and it’s called Zhejiang public testnet. And luckily it is now live and you can try playing with it!
You can also try to interact with it with Laika just go ahead to https://web.getlaika.app Connect to your wallet and on the top-right pick on the chain selector and type “Zhejiang”
And Wallah! You can interact with any smart contracts on it with a few clicks away!
Closing Thoughts 🤔
In conclusion, the Ethereum Shanghai Upgrade is a big step forward for the Ethereum network and the entire community. With the introduction of withdrawal capabilities for Beacon Chain stakers, and the Ethereum Object Format (EOF), the network is expected to become more efficient, consistent, and upgradeable. Developers can look forward to a better experience building and deploying their smart contracts on the Ethereum network. 🚀 Get ready for the big launch in March 2023!
That’s it for today! Catch up with you guys later!
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PS. This article is co-written by ChatGPT. A big shoutout to ChatGPT for its amazing assistance in writing this article!