JAKARTA - On March 16, 2023, Ethereum developers announced that the blockchain will be upgraded on April 12, 2023, which will include the implementation of Beacon push chain withdrawals. This will allow Ethereum network validators to support withdrawal operations after some changes.
Beacon push chain withdrawals will be carried out via Ethereum Improvement Proposal (EIP) 4895 which will "support validator pullouts from the Beacon chain to EVM via a new 'system level' type of operation."
In addition, Ethereum developers are also planning the implementation of the Ethereum Improvement Proposal or EIP-3651, EIP-6049, EIP-3860, and EIP-3855 within the upgrade. EIP-3860 aims to optimize costs by limiting the maximum init code size to 49152 and implementing an additional gas charge of 2 for each 32-byte init code chunk. This increase will limit transaction costs (gas fees) on larger contracts and ensure smooth transactions.
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At the time the upgrade was announced, the Beacon chain contract held 17,680,535 ether worth $29.33 billion using that day's Ethereum exchange rate.
The upgrade was originally planned for this month, but the consensus change was delayed. During the Execution Layer Meeting on March 16, 2023, Ethereum developers announced the rescheduling of the upgrade for April 12, 2023.
Ethereum developers tested the upgrade on several testnets. On Tuesday, March 15 Prior to the rescheduling announcement, the developers completed the Goerli testnet upgrade, which is basically the last step before Shapella's activation on the mainnet.
This step was taken to ensure that the upgrade is performed properly and minimizes the risk of disruption to the network.
In order to improve network security and efficiency, this Ethereum upgrade will allow the Ethereum network to continuously innovate and improve the performance of its services.
Despite the risks associated with this change, Ethereum developers and the community hope that this upgrade will bring long-term benefits to the network and its users.
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