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Ethereum Shanghai upgrade: EIP-3651 to cut gas fees for key network participants

Published 11/08/2022, 05:40 AM
Updated 11/08/2022, 07:20 AM
Ethereum Shanghai upgrade: EIP-3651 to cut gas fees for key network participants
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Ethereum’s Shanghai upgrade, the next major upgrade post Merge, is slated for the second half of 2023. The upgrade would be a key milestone as it would allow holders who have staked their Ether (ETH) for years to withdraw them systematically and make the network more scalable.

Apart from some of the major scalability upgrades, the key event would also tuck in a few minor Ethereum improvement proposals (EIPs), including EIP-3651, EIP-3855 and EIP-3860. Among all the upcoming improvement proposals, EIP-3651, called WARM Coinbase (NASDAQ:COIN), could be a game changer that could reduce network fees for some of the key network participants called builders.

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