Blog_2Blog_2Blog_2Blog_2
  • MARKET BUZZ
    • Daily Crypto News
    • Weekly Wrap Up
  • TOPICS
    • Crypto Basics
    • Defi
    • Metaverse
    • NFT
    • Blockchain
  • CRYPTO VERSE
    • Investing
    • Cryptocurrency
    • Price Predictions
    • Crypto Technical Analysis
    • Crypto Ama
    • Investment Research
  • PRODUCT
    • Tutorials
    • Product Features
    • Security Compliance
  • COINDCX
    • Announcement
    • Community
    • Crypto Competition
    • Listings
    • Opinion
    • Stories
Visit CoinDCX
✕
            No results See all results

            Top Crypto News Today: Latest Ethereum Shanghai Upgrade Update; EIP3651 To Reduce The Gas Fees!

            November 9, 2022
            Top Crypto News Today: Latest Ethereum Shanghai Upgrade Update; EIP3651 To Reduce The Gas Fees!

            The year 2022 will be a memorable one for the crypto space; starting from the crypto winter that started in May to the second most well known crypto, Ethereum, completing its most anticipated Merge upgrade and Cardano executing its Vasil Hard Fork, it has been a year to remember.

            With the Shanghai upgrade set to take place by the second half of 2023, the Ethereum network is busy looking at the EIPs to cater to the issues that this next upgrade is set to solve. Some of the problems that the Ethereum Shanghai Upgrade is set to solve are; gas fees, withdrawal of staked ETH tokens, and include updates for smart contracts. This upgrade is going to be a major milestone for the Ethereum Network since this will cater to the availability of the users to withdraw the Ethereum tokens that they have staked for years. 

            Apart from providing solutions for the scalability issue of the network, the Ethereum Shanghai Upgrade is also making way for the inclusion of Ethereum improvement proposals (EIPs), including EIP-3651, EIP-3855, and EIP-3860. Among the EIPs that is set to be executed in this upgrade, EIP3651; known as WARM Coinbase; can be a game changer as it is aiming to reduce the network fees for some of the key participants known as the builders. 

            Note: Coinbase; in this context; is the name of the software that the builders use to receive tokens on the network.

            With the system set in place, every new transaction needs multiple interactions with the Coinbase software, which starts with huge fees, and then as the number of transactions increases, the fees amount declines. However, with the EIP3651, the Coinbase software will remain ‘warm’, which means it will require less fees amount to make use of. 

            Recently, Vitalik shared the next steps that the Ethereum Network has set in place post the succession of The Merge upgrade.

            Updated roadmap diagram! pic.twitter.com/MT9BKgYcJH

            — vitalik.eth (@VitalikButerin) November 4, 2022

            While this inclusion of EIP 3651 is highly beneficial for builders, traders who make use of the builders to execute their trades will also be able to benefit from this; as they will not have to pay the fees for a failed transaction. For now, traders can charge a fee for a transaction, failed or not, since miners have the need to confirm transactions taking place on the chain, irrespective of the success or fail. 

            The Ethereum Network Upgrades So Far:

            ETHEREUM SHANGHAI UPGRADE SECOND HALF OF 2023
            FINAL ETHEREUM MAINNET MERGE 15 SEPTEMBER, 2022
            BELLATRIX UPDATE 6 SEPTEMBER, 2022
            SEPOLIA TESTNET UPDATE 22 AUGUST, 2022
            GOERLI TESTNET MERGE 11 AUGUST, 2022
            TENTH MAINNET SHADOW FORK 27 JULY, 2022
            SEPOLIA TESTNET MERGE 6 JULY, 2022
            MAINNET SHADOW FORKS 12 APRIL, 2022
            KILN TESTNET MERGE 16 MARCH, 2022
            ARROW GLACIER 9 DECEMBER, 2021
            ALTAIR UPGRADE 21 OCTOBER, 2021
            LONDON HARD FORK 5 AUGUST, 2021

            Additional Read: Ethereum Price Prediction

            Share
            0
            CoinDCX
            CoinDCX

            Related posts

            March 31, 2023

            Why did Decentraland Price surged more than 100% in 2023?


            Read more
            March 31, 2023

            Solana Based Apps coming to Cosmos as Injective Launches a Layer-2 Testnet


            Read more
            March 30, 2023

            Why did Basic Attention Token(BAT) Price surged by 50% in 2023?


            Read more

            Recent Posts

            • 0
              Why did Decentraland Price surged more than 100% in 2023?
              March 31, 2023
            • What is Gitcoin (GTC)? How To But GTC Token In India?0
              What is Gitcoin (GTC)? How To But GTC Token In India?
              March 31, 2023
            • 0
              Solana Based Apps coming to Cosmos as Injective Launches a Layer-2 Testnet
              March 31, 2023
            • 0
              Bitcoin vs Ethereum: What Sets BTC apart from ETH Crypto?
              March 31, 2023
            • Ripple Price Prediction: From $0.916 to $0.29; What’s next for XRP Price in 2023?0
              Ripple Price Prediction 2023: Will the Closure of Ripple vs SEC Lawsuit Propel the Price to $1?
              March 31, 2023

            Categories


            • BTC to INR


            • ETH to INR


            • USDT to INR


            • USDC to INR


            • BNB to INR


            • BUSD to INR


            • XRP to INR


            • ADA to INR


            • SOL to INR


            • DOGE to INR


            • SHIB to INR


            • MATIC to INR


            • TRX to INR

            Invest in Bitcoin, Ethereum, & other 200+ crypto assets.
            Download the app now, register & start with as low as Rs.100
            ios download link
            android download link
            qr code for download

            COMPANY

            Security
            Blog
            About
            Careers
            Referral Program

            PRODUCT

            Margin
            Trade
            Futures
            Insta
            Convert
            Lend
            Markets
            API Documentation

            SUPPORT

            Contact Support
            Frequently Asked Questions (FAQ)
            Contact Us

            • Customer Support: [email protected]
            • Team: [email protected]
            • Press: [email protected]

            SOCIAL LINKS

            Icon of FacebookFacebook
            Icon of FacebookTwitter
            Icon of InstagramInstagram
            Icon of TelegramTelegram
            Icon of LinkedInLinkedIn
            Icon of RedditReddit

            Logo of CoinDcx Download our Android/iOS App: CoinDCX Ⓒ All rights reserved by Primestack Pte. Ltd.

            DISCLAIMER

            The information and material contained herein are subject to change without prior notice including prices which may fluctuate based on market demand and supply. The material available on the site is proprietary to CoinDCX, its parent, Licensor and/or its affiliates and is for informational purposes and informed investors only. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations. Note Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

              Visit CoinDCX
                        No results See all results
                          Go to mobile version