Comments from the Ethereum Developers’ Meeting: Upgrades that will change the game are coming
Briefly
- Ethereum developers deliberated on proposals to raise the maximum effective validator balance and the forthcoming Deneb upgrade.
- The Ethereum network’s efficiency and scalability will be enhanced and solo stake opportunities will be expanded by the proposed changes.
- The community’s concerns about possible centralization and the net benefits of the proposed changes reflected mixed responses.
In order to enhance its scalability and effectiveness, Ethereum is undergoing significant modifications. During the most recent meeting of the Ethereum core developers, a number of important discussions were held, which shed light on the competition for the second-largest cryptocurrency by market capitalization.
The Deneb upgrade was the primary focus of the 111th All Core Developers Consensus (ACDC) call. The proposal to raise the maximum effective validator balance from the current 32 ETH to a staggering 2,048 ETH was also included.
Ethereum Devs Discuss the Network’s Future
Discussions and coordination of changes to Ethereum’s consensus layer (CL) have centered on the ACDC calls, which are led by Ethereum Foundation researcher Danny Ryan.
Alex Stokes, a researcher at the Ethereum Foundation, presided over the meeting during the most recent call.
The scope of the soon-to-be-released Deneb upgrade was the primary topic of discussion. The proposal to raise the validator balance limit and the possibility of altering the attestation and aggregation deadlines were among the other topics that were discussed.
Deneb’s full scope is being finalized by the Ethereum developers’ community and will be implemented simultaneously with the Cancun upgrade. A variety of Ethereum Improvement Proposals (EIPs) are being considered by developers as part of the upgrade.
These include EIP 6988 and EIP 7045, which aim to improve the staking user experience and increase network security.
Increasing Staking Limit of Validators by 64x
The most daring idea is that the validator balance cap should be raised from 32 ETH to 2,048 ETH.
Michael Neuder, a researcher at the Ethereum Foundation, came up with this method to slow down the growth of the active validator set. The limit that has been suggested might make it easier to implement upgrades to the roadmap in the future. These include single slot finality and a reduction in the excessive bloat caused by the high volume of messages in the peer-to-peer layer.
By allowing independent validators to automatically compound their stake earnings, the increase may also encourage solo staking. For service providers with significant stakes, it might lessen the complexity of the infrastructure. It basically gets rid of the need to constantly set up new validators to compound returns.
“We see a validator set contraction as a must-have for a sustainable and upgradable Ethereum consensus layer,” said Neuder.
However, developers’ reactions to this revolutionary proposal varied. Due to the decrease in the number of validators, some interpreted the significant increase as a shift toward centralization. Others argued that the proposal would not significantly benefit the network, contesting it.
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Creating the World’s Computer
Parallel to these enhancements, the ACDC delved into discussions about validator attestation and aggregation deadlines.
The possibility of doubling the maximum number of blobs in a block from four to six was brought up. MEV relay stability could be improved, reorganizations could be reduced, and validators’ computational load could be better handled by this. To finalize these changes, however, further investigation and analysis are required.
Ethereum developers also coordinated the launch of the Holesky test network in the midst of these meetings. By the end of the year, it is planned that this network will take the place of the current Goerli testnet. The configuration of the testnet is expected to be finished by August, and it is expected to be launched by mid-September.
