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Ethereum Shanghai upgrade includes EIP-4844, Vitalik: the first step in significantly reducing L2 fees

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Ethereum Shanghai upgrade includes EIP-4844, Vitalik: the first step in significantly reducing L2 fees

Ethereum core developers discussed major upgrades post The Merge in the latest meeting, including EIP-4844 which could significantly enhance scalability, and EIP 4895 bringing staking unlock functionality to the beacon chain.

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EIP-4844

According to the Ethereum core developer meeting, the next major upgrade post-merge, "Shanghai Upgrade," has included EIP-4844 proto-danksharding in the consideration list, CFI.

EIP-4844 aims to further enhance Ethereum's scalability, with OP Labs CEO Liam Horne tweeting strong support for the inclusion of EIP-4844 in CFI. He believes that EIP-4844, with over nine months of iterations, can reduce Ethereum's fees by 100x post-merge, making it the most promising upgrade proposal to contribute significantly to Ethereum.

Ethereum's founder, Vitalik Buterin, also echoed Liam Horne's sentiment, stating that EIP-4844 is the first step in significantly reducing L2 fees, making DApps more accessible to users without relying on centralized financial intermediaries.

ETH Unlocking

As previously reported, staked ETH will not be unlocked during the merge and is scheduled to be addressed in another upgrade 6-12 months post-merge.

The EIP 4895 for unlocking staked ETH functionality may be included in the next hard fork, but there is no consensus among core developers on the timing of the Shanghai Upgrade implementation.

On 10/15, the Ethereum Foundation JavaScript team launched "Shandong Testnet" as an early testnet for the Shanghai Upgrade. The EIP proposals included in the consideration list will be applied to the testnet for early client testing.