Ethereum Berlin Upgrade Announcement
The Ethereum Berlin upgrade is live.
What is the Ethereum Berlin upgrade?
The Berlin upgrade will feature a total of four protocols. Each of these aims to conquer some of the pervasive challenges in the Ethereum ecosystem.
Some of the protocols to be released in the April upgrade include:
- EIP-2565 = reduce the cost of the ModExp precompile. This will help calculate the gas prices.
- EIP-2929 = will ‘increase’ certain gas costs when used for the first time in a transaction.
- EIP-2718 = will introduce a new transaction module that will support multiple transactions.
- EIP-2930 = will transaction type with optional access lists. This particular EIP will help alleviate some of the newly imposed gas prices from EIP-2929.
Particularly irksome to the mining community is that reward ratios on the Ethereum blockchain are anticipated to be slashed by up to 50%. This is incredibly taxing for community members. In addition, they are instrumental to the function of the blockchain. For ethereum to continue its growth, it must not only attract new developers but sustainable mining.
The well-known mining group SparkPool took to Twitter to publicly take a stance against the new EIP-1559. The EIP-1559 is scheduled for release in July of this year as part of the London upgrade.
With the many hurdles the Ethereum network has faced since the Istanbul upgrade, Berlin is a long-awaited step forward. However, as the demand for altcoins, NFTs, and DeFi skyrockets, it remains to be seen how this upgrade will make these transactions run more smoothly and if gas prices will come down.