- Ethereum developers discussed future updates on a recent call.
- While ETH stabilized after a brief bout of depreciation, the volume of ETH trades declined.
- Ethereum recorded a massive surge in interest over the last few days owing to the news around its spot ETF approval.
Ethereum’s future developments: What lies ahead for the network?
Spot ETH ETFs may be sorted now, but what next for Ethereum?
Ethereum [ETH] recorded a massive surge in interest over the last few days owing to the news around its spot ETF approval. Unaffected by the hype around the ETF approval, however, it was business as usual for Ethereum’s developers.
At the most recent ACDC (All Core Developers Execution Call), multiple development updates were discussed pertaining to the future of the Ethereum network.
What’s new?
A proposal to enhance the Execution API by incorporating “returndata” within transaction receipts sparked discussion, but no consensus was reached. Developers will continue this conversation on GitHub going forward. In simpler terms, someone proposed a way to improve how developers get information about transactions on Ethereum, but no decision was made on whether to do it or how exactly to do it yet.
Separately, concerns arose regarding the default minimum priority tip requirement implemented in Geth. While some believe it results in empty blocks, others argue it promotes proper block construction. To put it simply, there was disagreement about a setting in the Geth client that affects how transactions are prioritized.
The developers are currently testing different changes in a separate testing ground called the Pectra Devnet. Some planned features have been swapped around, with EIP 7702 replacing EIP 3074 in the next test phase.
Additionally, there was a big discussion about what exactly to include in the final upgrade of Pectra. Some developers want to delay the EOF feature and potentially split the upgrade into multiple parts. For context, EOF (EVM Object Format) is a proposed upgrade for Ethereum’s smart contract engine, offering better organization and potentially faster execution. However, its complexity is causing debate about when to include it.
In essence, Ethereum users can expect smoother developer experiences and potentially faster transactions with these updates, but delays are likely due to ongoing debates about how to best implement them.
How is ETH doing?
At press time, ETH was trading at $3,754, up by just 0.38% in the last 24 hours. The volume at which ETH was trading at, however, declined significantly by 56.74%.
As the ETF hype grows, ETH’s price is expected to surge. Alas, it remains to be seen whether the Pectra upgrade will add wind to ETH’s momentum in the future, or cause unexpected volatility.
Conclusion
Ethereum’s developers are working diligently on several updates that promise to enhance the network’s efficiency and user experience. While the recent spot ETF approval has generated significant interest, the real test will be how these technical upgrades are implemented and their impact on ETH’s price and stability. Investors and users should stay tuned for further developments as Ethereum continues to evolve.
