Next stop Shanghai — Ethereum’s latest milestone approaches

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Shanghai looms large. Ethereum’s latest upgrade will have a dress rehearsal on the Goerli testnet on March 14.

Validator balances are maxed out at 32 ETH, meaning that balances above this threshold as a result of rewards do not contribute to the principal amount nor increase the weight of a validator on the network.of the network upgrade. Matt Nelson, ConsenSys Hyperledger Besu and Web3 senior product manager, highlighted the impact of each of these EIPs.

“Regardless, this EIP corrects a previous oversight on the cost to access the coinbase address and gives some added benefits to users and developers that open up new use cases.” “EIP-3860 applies a new cost to the initcode that scales in correlation to the size of the ‘initcode’ to ensure handling that contract creation is costed appropriately.”

“This change creates a new PUSH0 opcode, which is cost for 1 byte of data storage , and will bring gas costs for developers down.” “Some believe that a successful network upgrade will spur more deposits, which would lead to bullish market activity. Others, meanwhile, believe that large portions of the staked ETH supply — now in excess of 17.5 million ETH — will be withdrawn and sold.”

 

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Those that locked up ETH to become validators have been unable to withdraw their staked holdings from the Beacon Chain. This changes with the Shanghai upgrade, and is a major reason for the increased fanfare around the latest change to the Ethereum network.

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