Ethereum’s System Engineers Work On Update In Shanghai

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The team of engineers working on the ETH ecosystem improvement are current having a discourse on the future updates and additional functions to introduce on the platform.

On the 24th of November, eight new features were approved during the staff meeting in Shanghai. One of the crucial developments, Proof of Stake upgrade.

Not only that, but the users are now able to use a hard fork connection that allows them to more easily and faster receive their stock and possessions. 

Still on testing

The news features are still on trial. But the engineers had made an agreement on promoting the new features while building a new staked framework on Ethereum basis. 

One of the employees of Ethereum Foundation, a developer Wijden stated, that the work on the new features has been started way earlier than it was reported in the media.

There are eight rounds of development planned for the new functions, testing and improving before they will be usable for the wide public. 

The benefits of the new features

The development is aimed to make the speed of transactions and deals faster and easier for users. It might also benefit the decentralization of the network and the Ethereum liquidity.

The smart-contracts are also to be introduced, as well as new algorithms. 

Better scaling methods and leveraging tools might boost the network operation and decrease the costs of gas and transactions drastically. 

The developments will mostly affect the hard fork of the network. The timeline will be encoded into the core of the ETH transactional system. 

The new developments might have a great impact on the system: currently operated and future. The new features are the greatest development since the introduction of the Merge.

The latter gets the responsibility of ETH transactions, as it utilizes the smart-contracts. It has the 2nd biggest market capitalization and uses PoS and PoW systems. 

The update is crucial for the EVM functionalities updates and new blockchain functionality. The future of the system might change fully, as well as the user experience of utilizing Ethereum.


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