On March 31st, the Core Developer of Ethereum Announces Postponement of Nethermind V1.18 Version to Shanghai

On March 31st, the core developer of Ethereum Ł Ukasz Rozmej said on Twitter, “We have postponed the Nethermind V1.18 version of the Ethereum client to Shanghai, just to have the best stability on the fork. The V1.18 version will be very large, with many very important improvements and fixes.”

Nethermind, the Ethereum client, postponed the V1.18 version update to maintain stability during the upgrade in Shanghai

Introduction

The Ethereum network is a decentralized, open-source blockchain technology that enables the creation of smart contracts and decentralized applications (dApps). The core developer of Ethereum, Łukasz Rozmej, recently announced on Twitter that the Nethermind V1.18 version of the Ethereum client would be postponed to Shanghai.
This article discusses the reasons behind this delay, the improvements and fixes that the V1.18 version will bring, and how this development will impact the Ethereum ecosystem.

Reasons Behind the Delay

According to Łukasz Rozmej’s tweet, the Nethermind V1.18 version of the Ethereum client was postponed to ensure the best stability on the fork. A fork is a technical event that occurs when a blockchain splits into two separate chains due to changes in the underlying protocol.
The Ethereum network is scheduled to undergo a hard fork in July 2021 as part of the London upgrade. The Nethermind V1.18 version of the Ethereum client is expected to provide significant improvements and fixes that will be essential for the successful execution of the London upgrade.
Therefore, it is crucial to ensure that the Nethermind V1.18 version is stable and bug-free before the London upgrade goes live.

Improvements and Fixes

The Nethermind V1.18 version of the Ethereum client is expected to bring many critical improvements and fixes. Some of these include:

EIP-1559 Implementation

EIP-1559 is a proposal to change the Ethereum transaction fee structure. Currently, Ethereum uses an auction system to determine transaction fees, where users bid for a limited number of block slots to include their transactions.
EIP-1559 would introduce a base fee that would adjust based on network congestion. The base fee would be burned, reducing the total amount of ETH in circulation.

Gas Fee Estimation

The Nethermind V1.18 version of the Ethereum client will provide more accurate gas fee estimates. This will help users determine the appropriate fee to pay for their transactions.

Improved Syncing

The syncing process is the process of downloading and updating the Ethereum blockchain. The Nethermind V1.18 version of the Ethereum client is expected to improve the syncing process, making it faster and more efficient.

Impact on the Ethereum Ecosystem

The delay of the Nethermind V1.18 version of the Ethereum client may have some short-term effects on the Ethereum ecosystem. The Nethermind team is one of the many teams working on the Ethereum network. While the delay may impact the development timeline of some dApps and projects that rely on the Nethermind client, the effects are likely to be minimal.
In the long term, the improvements and fixes that the Nethermind V1.18 version of the Ethereum client will bring will be essential for the growth and scalability of the Ethereum network.

Conclusion

The postponement of the Nethermind V1.18 version of the Ethereum client to Shanghai is a necessary step to ensure the successful execution of the London upgrade. The improvements and fixes that the V1.18 version will bring will be crucial for the growth and scalability of the Ethereum network.
In the short term, the delay may have some effects on the development timeline of some dApps and projects. However, the long-term benefits of the improvements and fixes in the Nethermind V1.18 version outweigh the short-term effects.

FAQs

1. What is the Ethereum network?
The Ethereum network is a decentralized, open-source blockchain technology that enables the creation of smart contracts and decentralized applications (dApps).
2. What is a hard fork?
A hard fork is a technical event that occurs when a blockchain splits into two separate chains due to changes in the underlying protocol.
3. What is EIP-1559?
EIP-1559 is a proposal to change the Ethereum transaction fee structure. It would introduce a base fee that would adjust based on network congestion, and reduce the total amount of ETH in circulation.