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Developers at the Ethereum Foundation have decided on eight Ethereum Improvement Proposals (EIPs) to explore for the Shanghai Update, the next major post-merge update and its move to a proof-of-stake consensus, the Ethereum Foundation announced on November 24.

During a weekly call, the developers decided which features should be included in the next hard fork, which will be released in the second half of 2023. According to the Ethereum Foundation’s JavaScript team on Twitter:

One of the main features expected in the Shanghai hard fork, Beacon Chain staked Ether (ETH) is about to be unlocked, allowing assets to be withdrawable with the upgrade, meaning users with Ethereum staked before the merger will be able to access these tokens, along with any other rewards. A previous schedule called for locked ETH to be accessible 6-12 months after the merger.

Among the approved proposals is EIP 4844, which focuses on leveraging proto-danksharding technology, and is expected to increase network throughput and reduce transaction fees, a significant improvement for scalability. Other EIPs deal with upgrading Ethereum virtual machines, including EIP 3540, EIP 3670, EIP 4200, EIP 4570, and EIP 5450.

The Shanghai testnet version, dubbed Shandong, went live on October 18, allowing developers to work on implementations such as the Ethereum Virtual Machine (EVM) object format, is one of the most popular updates. expected from the community as it separates the encoding from the data, which could be beneficial for on-chain validators.

As previously reported by Cointelegraph, the merger was the first step in this five-step processwho has since been developed by a number Ethereum developers, ecosystem participants, and commentators. The key change from the merger is the drastic reduction in power consumption, which is expected to reduce Ethereum’s power consumption by 99%.