According to reports, Ethereum developers are in the final stages of planning the next major upgrade.
The EIP-4844, which introduces “Proto-Danksharding” to Ethereum, is expected to occur during the Cancun hard fork.
The Ethereum roadmap remains extensive with several significant upgrades still in the pipeline. Over the next six months, Ethereum has planned upgrades to staking withdrawals, as well as various new applications that will enhance the blockchain’s security and provide a better user experience.
With the implementation of Proto-Danksharding, a new feature called “data blobs” will be introduced. These blobs can be sent and attached to blocks, but they are not accessible to the EVM and are automatically deleted after a fixed period of time. This will enable rollups to send data at a reduced cost, resulting in lower transaction fees for users.
Another new development users and engineers are planning is what is known as Distributed Validator Technology (DVT). Crypto staking ecosystem provider Obol Labs is working on a DVT solution that it plans to deploy by 2024.
The third milestone involves proposer-builder separation (PBS), which aims to address MEV attacks (maximal-extractable-value). PBS aims to create a “division of labor between two crucial tasks of block-building: proposing a block, and building it,” Bankless further explained.
How does Ethereum Governance Work?
Typically, ideas in the Ethereum community originate from lively discussions on forums such as ethresear.ch, Ethereum magicians, or the ETH R&D discord server.
These conversations might arise in response to newly identified vulnerabilities, proposals from application layer organizations such as dApps and exchanges, or even to address known user frictions such as high costs or slow transaction speeds.
Once these ideas have matured, they may be submitted as Ethereum Improvement Proposals (EIPs) and are subject to public scrutiny. This ensures that the entire community has an opportunity to provide input at any point in the process.
At press time, Ethereum (ETH) traded at $1,894.77 with a 24-hour low/high range of $1868.6 to $1915.
Ethereum Weekly Price Chart (Source: CoinMarketCap)
Over the past seven days, the low/high range has remained consistent at $1,870.41 to $1,919.17. The trading volume stands below $7 billion, and Ethereum holds a market cap of $228 billion, exhibiting a market dominance of 18.344%. Since the implementation of the Shapella upgrade, Ethereum has outperformed Bitcoin by 15% in gains.