As an experienced analyst, I have closely followed the developments in the Ethereum (ETH) ecosystem and have observed the latest updates regarding the Pectra upgrade. The recent decision by Ethereum developers to expand the scope of the upgrade with the inclusion of EOF and EIP 7702 is a significant step forward.
Christine Kim, Vice President of Research at Galaxy, recently shared on the X platform details about the current work Ethereum (ETH) developers are engaged in concerning the Pectra upgrade. This update was discussed during the All Core Developers Execution Call held on June 6.
Ethereum Developers to Expand Pectra With 2 EIPs
Yesterday, during the All Core Developers Execution (ACDE) Call #189 chaired by Tim Beiko of the Ethereum Foundation (EF), there was an agreement among Ethereum developers to broaden the scope of the Pectra upgrade. This expansion includes the integration of EOF and EIP 7702 into the Pectra upgrade.
Activating both solutions concurrently during multi-client testing for the upgrade may lead to delays. Therefore, protocol developers intend to initiate End Of File (EOF) activation in later development networks instead. Additionally, they are contemplating scheduling EOF activation on a distinct epoch from other Ethereum Improvement Proposals (EIPs), similar to the approach taken for testing PeerDAS.
Based on the collective feedback from different EL client teams and the EF DevOps team, there is approval for integrating EOF onto Pectra.
EL EIPs CONFIRMED FOR PRAGUE:
– EIP 2537
– EIP 2935
– EIP 7685
– EOF
– EIP 7702— Christine Kim (@christine_dkim) June 6, 2024
One objection to Verkle’s functionality was raised by Geth, specifically by Guillaume Ballet among its developers. He expressed some concerns that are worth noting.
I express concern that further delay in implementing Verkle’s translation may prolong the process unnecessarily. However, I question the urgency of Early Opt-In Feature (EOF) in Prague. Upon reading various reasons put forth for its inclusion, I find myself increasingly convinced that there is insufficient justification behind it.
Approximately half of the Ethereum protocol developers held a differing opinion on this matter. Kamil Sliwak, in particular, expressed enthusiasm for EOF, viewing it as a noteworthy advancement, especially for individuals engaging with the Solidity compiler for Ethereum’s smart contract development.
Developers Decide on the Integration of EOF
During this interim period, there are ongoing debates regarding the most suitable method for incorporating EOF into the system. Beiko proposes that they release all Pectra Enhancement Proposals (EIPs), including EOF, in a single client update. For the current testing phase, he suggests developers consider utilizing devnet to trial-run these code modifications.
As a researcher studying Ethereum protocol development, I’ve noticed that some developers view the incorporation of EIP 7702 as a potential alternative to EIP 3074. However, there are still unresolved issues with the specifications of EIP 7702. In response, the Ethereum community is dedicating time and resources in a separate working group to address these challenges.
As an analyst, I’d rephrase it as follows: These forthcoming additions have the potential to influence Ethereum’s price. Notably, Ethereum has exhibited bullish trends since the SEC approved spot Ethereum ETFs. At present, Ethereum is trading at $3,790.62, representing a 1.29% decline in the previous 24 hours. The investor community remains optimistic that Ethereum will surpass the $5,000 mark, as per predictions from leading analysts.
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2024-06-08 02:28