Most Awaited Ethereum Merge is Here- What’s Next?
Meta Description: The ETH network core developers have their eyes on the Shanghai upgrade after the Ethereum merge. What will come next, however, is up for debate now.
After years of anticipation, the Ethereum merge has finally arrived. On September 15th, the Ethereum landmark transition went off without a hitch to proof of stake.
Approximately half a decade was needed to execute the merger, which involved digital assets worth tens of billions of dollars and zero chances of error in the process. It utilized the focus and energy of the elite cadre of the core developer network.
With this gigantic technical feat in the bag, everyone thinks, what is in line for Ethereum next?
What’s Coming Up with Ethereum Merge?
Ethereum core developers will hold no collective decisions and group meetings for the next two to three weeks related to the future of the network. This postponement from high-octane decision-making will be brief, however.
Furthermore, it is assumed that within the next month, the network’s main developers will collectively figure out which features plan they would include in the Ethereum next upgrade, Shanghai. Opinions and available options within the group are torn. And again, whatever the decision, it will have multi-billion dollar implications.
According to the Ethereum core developer, Mich Zoltu, “Many people have lots of things they want to go in (Shanghai), but there is not yet any consensus on what will make it.”
It is most likely to be said that the most immediate and promising feature considered for the inclusion in the Shanghai upgrade is the facility for the Ethereum validators to withdraw staked ETH.
This Ethereum merge has transformed Ethereum into a proof-of-stake (PoS) mechanism; therefore, from today and onwards, all the Ethereum transactions will take place by organizations or individuals who have staked or deposited sizable amounts of Ethereum, not by energy-intensive “miners.”
Currently, Ethereum can only be deposited into the ETH staking mechanism and cannot be withdrawn. It means that over $21 billion worth of Ethereum is presently staked on the network. And it will remain stuck in the network unless the developers add the withdrawal feature.
What’s Next After Staking?
Zoltu also said, “top priorities may differ from person to person. Everyone has a different list. What is ‘pressing’ is also subjective and not agreed on,”
Furthermore, the second most likely feature to be included in the Shanghai upgrade is the Ethereum Virtual Machine (EVM) improvement. A developer-oriented mechanism defines the rules on how the blocks in the network would interact.
Over the last two years, the EVM upgrade has not been updated, partly because the core network developers had a massive headache incorporating the improvements in the merge. ‘
Another rumored Ethereum feature that gathered a lot of grips the people is called “proto-danksharding,” which is associated with the scalability of the technological rollups. Technically, these tools address the Ethereum mainnet’s exorbitant gas fees and slow speed by rolling transaction collections into units.
And Proto-dansharding would serve as a prior version of danksharding, by which massive amounts of data rollups can be verified by small data pieces sampling. Essentially, the process will be useful to boost the speed and ease of demonstrating large amounts of data.
Since the Ethereum merge has just been set up, there is no estimate of how long the implementation process would take. However, the network developers are confident that the upgrade might occur next year. Till then, the $21 billion and more will remain trapped in the ETH.