Ethereum Core Developer Consensus Meeting: Summary and Updates

On April 22nd, Christine Kim, Vice President of Galaxy Research, posted a blog summarizing the 107th Ethereum Core Developer Consensus Meeting. Christine Kim stated that after a brief confirmation of the success of the upgrade in Shanghai, the meeting began to discuss the preparations for Deneb. Among them, Tim Beiko, the core developer of Ethereum, stated that the fifth development and testing network for EIP-4844 will be launched sometime next week. At the consensus meeting, developers proposed to include EIP-4788, along with 3175 and EIP-4844, in the Deneb upgrade.

The fifth development and testing network for Ethereum EIP-4844 will be launched next week

Introduction

On April 22nd, Christine Kim, Vice President of Galaxy Research, posted a blog summarizing the 107th Ethereum Core Developer Consensus Meeting. This was a significant event for those involved in the world of cryptocurrency, as it provided important updates and insights into Ethereum’s future plans and developments.

Brief about Ethereum

Ethereum is a decentralized software platform, and its primary use case is the creation of smart contracts and decentralized applications. Essentially, Ethereum allows users to create and operate applications that run on blockchain technology.

Success of the Upgrade in Shanghai

The meeting began with a brief review of the recent upgrade in Shanghai. The community confirmed that it had been very successful and that there had been no reported problems.

Preparations for Deneb

The main agenda of the meeting was to discuss the preparations for Deneb, which is the next major upgrade to the Ethereum network. Tim Beiko, the core developer of Ethereum, announced that the fifth development and testing network for EIP-4844 will be launched sometime next week.

EIP-4788 Proposal

Developers at the meeting proposed to include EIP-4788, alongside EIP-3175 and EIP-4844, in the upcoming Deneb upgrade. EIP-4788 is a proposal to modify the Ethereum Virtual Machine to improve its efficiency. This modification should reduce the cost of some basic transactions, which is especially important in scenarios where many transactions are being processed simultaneously.

EIP-3175 Proposal

EIP-3175 is a proposal to introduce a new opcode (a type of instruction) into the Ethereum Virtual Machine. The opcode proposed will be used to bundle multiple contract calls into one call. This will help to improve the efficiency of the network, especially in situations where there are a lot of contract interactions happening at once.

EIP-4844 Proposal

EIP-4844 is a proposal to add a new feature to the Ethereum protocol called “ticketing.” This feature will allow miners to create “tickets” that can be used to validate future blocks and receive rewards for doing so. This proposal has significant potential to simplify the mining process and incentivize further participation.

Conclusion

The Ethereum Core Developer Consensus Meeting addressed many important topics, including the updates on recent upgrades, preparations for the upcoming Deneb upgrade, and the proposals for EIP-4788, EIP-3175, and EIP-4844. These upgrades and proposals have the potential to make Ethereum more efficient, user-friendly, and secure. The future of Ethereum is looking bright, and we can expect to see many more exciting developments in the coming months and years.

FAQs

1. What is Ethereum?
Ethereum is a decentralized software platform that allows users to create and operate applications that run on blockchain technology.
2. What is the Ethereum Core Developer Consensus Meeting?
The Ethereum Core Developer Consensus Meeting is a gathering of the developers responsible for Ethereum’s development. It is a significant event for those involved in the world of cryptocurrency, as it provides important updates and insights into Ethereum’s future plans and developments.
3. What is the EIP-4844 proposal?
EIP-4844 is a proposal to add a new feature to the Ethereum protocol called “ticketing.” This feature will allow miners to create “tickets” that can be used to validate future blocks and receive rewards for doing so.