• 15 June, 2024
News

Ethereum Devs Opt For Staking Withdrawals Over EOF in Shanghai

According to Christine Kim, a research associate in Galaxy, on January 5, 2023, the core developers of Ethereum (ETH) decided to scrap the EVM Object Format changes planned for its highly anticipated hard fork dubbed Shanghai.

The core developers of Ethereum (ETH) have also chosen to reject any Ethereum Improvement Proposals (EIPs) that are offered to replace EOF as part of the Shanghai roadmap. To prevent any more delays with Staked Ether withdrawals, Ethereans have decided to deactivate EOFs from Shanghai.

Though most developers were concerned about putting off Shanghai and the much-anticipated withdrawal functionality, Ethereum Foundation team head Péter Szilágyi was more relaxed about the delay, saying that “scaling Ethereum is significantly more important than withdrawals.”

Instead of data on Ethereum being permanently recorded in the blockchain, Proto-Danksharding would introduce the concept of data “blobs,” which would expire after around two weeks. Proponents of the update claim it is tailored to enhancing layer-2 roll-ups and would reduce transaction fees by orders of magnitude.

Others on the call were concerned about delaying Shanghai by months by including addressing the withdrawal issue, so they voted to defer 4844 in favor of EOF, which was seen more feasible.

Withdrawals over EOF

Therefore, the only major instrument provided with Shanghai’s activation is the ability to withdraw Ethers (ETH) from the staking mechanism. By releasing public testnets in January 2023, the developers hope to ensure a streamlined and efficient approach.

Another change coming in January is the rebranding of Ethereum’s ACD Calls to ACD Execution (ACDE) calls, emphasizing the participants’ emphasis on the execution layer of the most popular smart contract platform. Furthermore, the Ethereum consensus layer will be the topic of a separate set of developer calls, termed ACD Consensus (ACDC) calls.

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