The Ethereum Shanghai upgrade is an important step in the ongoing development of Ethereum, as it aims to improve the network's functionality, security, and overall user experience. Of the four Ethereum Improvement Proposals (EIPs) included in this upgrade, EIP-4895 is the most notable.

EIP-4895: Beacon Chain withdrawals

The Ethereum network has been transitioning from a Proof-of-Work (PoW) consensus algorithm to a Proof-of-Stake (PoS) algorithm, a process that began with the launch of the Beacon Chain in December 2020. The PoS model rewards users who stake their ETH as validators, helping to secure the network and process transactions. Validators are chosen to propose blocks and attest to their validity based on the amount of ETH they have staked.

Before the implementation of EIP-4895, users who staked their ETH on the Beacon Chain could not withdraw or "unstake" their funds. EIP-4895 introduces a mechanism that allows users to withdraw their staked ETH, giving them greater control over their assets and providing an exit strategy for those who no longer wish to participate in the validation process.

This EIP is essential for the Ethereum ecosystem, as it not only improves the PoS model but also boosts user confidence in the network's upgrade process. By allowing users to unstake their ETH, Ethereum becomes more accessible and flexible for its users, which in turn can help attract new participants and drive further adoption of the platform.

The other three EIPs included in the Shanghai upgrade

1/ EIP-3651: Warm COINBASE - This proposal aims to reduce the gas cost associated with the COINBASE operation, making it more efficient and less expensive for smart contracts to access the miner's address.

2/ EIP-3855: PUSH0 instruction - This EIP introduces a new EVM (Ethereum Virtual Machine) instruction called PUSH0, which pushes a zero value onto the stack. This allows for more efficient and optimized bytecode, improving the performance of smart contracts.

3/ EIP-3860: Limit and meter initcode - This proposal aims to limit the size of initcode (the code executed during contract creation) and meter its execution, helping to prevent potential attacks and improve the overall security of the Ethereum network.

The Shanghai upgrade demonstrates Ethereum's ongoing commitment to improving its platform, addressing security concerns, and enhancing the user experience. The implementation of these EIPs will contribute to a more efficient and secure Ethereum network, further solidifying its position as a leading blockchain platform.

NodeReal Timeline

We maintain strong connections with the Ethereum community to ensure our full node and Meganode infrastructure is updated promptly, safeguarding our ETH service users from any disruptions.

Prior to the mainnet upgrade, our Goerli testnet client has undergone an upgrade, allowing all NodeReal users to seamlessly test their applications using the NodeReal API service. You can keep using our Goerli service to test your application from today!

Reminder: Be aware that block payload and payload headers will include new fields for withdrawal operations. To prevent compatibility issues, you may need to adjust your application code accordingly. For more information, please refer to the EIP-4895 documentation.

About NodeReal

NodeReal is a leading one-stop blockchain infrastructure and service provider that embraces the high-speed blockchain era and empowers developers by “Make your Web3 Real”. We provide scalable, reliable, and efficient blockchain solutions for everyone, aiming to support the adoption, growth, and long-term success of the Web3 ecosystem.

NodeReal’s Semita helps developers to build their custom Application Chains or scale their blockchains with Layer 2 solutions, like ZK Rollup and Optimistic Rollup.

Join Our Community

Join our community to learn more about NodeReal and stay up to date!

Discord | Twitter| Youtube | LinkedIn