Research Summary
The report discusses the Ethereum All Core Developers Execution Call #180, where developers discussed three major code changes: Verkle, Ethereum Virtual Machine Object Format (EOF), and history expiry. They also discussed the Dencun upgrade, the Besu Jan 6 Mainnet Event, and the Prague Proposals.
Key Takeaways
Major Code Changes
- Verkle: This is a significant overhaul to how data is stored and retrieved on Ethereum. The developers estimate that the conversion to Verkle will take about two weeks and make transaction execution times about 10% slower. However, more research is needed before its implementation.
- Ethereum Virtual Machine Object Format (EOF): This is a bundle of code changes to the Ethereum Virtual Machine (EVM) that developers are targeting for activation on testnets in Q3 2024. The EOF is seen as a solution to many of the fundamental problems of the EVM.
- History Expiry: This means that Ethereum Layer clients would stop serving historical block headers, bodies, and receipts on the peer-to-peer layer after a certain period. This data would be serviced through an alternative decentralized network called the Portal Network.
Dencun Upgrade
- Upgrade Progress: Developers are holding off from setting a mainnet activation date for the Dencun upgrade until the next ACD call due to two outstanding items that need investigation. They also want more feedback on the Dencun upgrade from Layer-2 rollup teams before mainnet activation.
Besu Jan 6 Mainnet Event
- Outage Details: Besu developer Matt Nelson shared details about an outage of roughly 70% of Besu Ethereum nodes on Ethereum in early January. The outage was due to a bug in Besu’s Bonsai state storage format. A hotfix has been rolled out to address this issue.
Prague Proposals
- Implementation Details: Developers discussed the implementation details of the three major code changes: Verkle, EOF, and history expiry. They agreed to schedule Verkle for the Osaka upgrade and to continue working on the parallel network needed for history expiry.
Actionable Insights
- Monitor the Progress of Major Code Changes: Stakeholders should keep an eye on the development and implementation of the three major code changes: Verkle, EOF, and history expiry. These changes could significantly impact the Ethereum network.
- Understand the Implications of the Dencun Upgrade: The Dencun upgrade could bring significant changes to the Ethereum network. Stakeholders should understand its implications and prepare accordingly.
- Consider the Impact of the Besu Outage: The recent Besu outage highlights the importance of client diversity in maintaining network health. Stakeholders should consider this when making decisions about their Ethereum nodes.
