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Ethereum Network Set to Undergo Upgrade: Geth v1.11.5 (Erszbat) Release

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On March 21, Go Ethereum released the Ethereum client version Geth v1.11.5 (Erszbat), which will enable the upgrade of the Shanghai main network at 22:27:35 UTC on April 12 (06:27:

Ethereum Network Set to Undergo Upgrade: Geth v1.11.5 (Erszbat) Release

On March 21, Go Ethereum released the Ethereum client version Geth v1.11.5 (Erszbat), which will enable the upgrade of the Shanghai main network at 22:27:35 UTC on April 12 (06:27:35 Beijing time on April 13).

Ethereum client Geth released v1.11.5 to enable the upgrade of the Shanghai main network on April 13

The Ethereum network is set to undergo a major upgrade on April 12th (UTC) with the release of Geth v1.11.5 (Erszbat) by Go Ethereum. This upgrade will continue the network’s ongoing evolution towards becoming a more scalable and secure infrastructure for decentralized applications (DApps) and smart contracts.

What is Geth v1.11.5 (Erszbat)?

Geth (Go Ethereum) is a command-line interface for running Ethereum nodes that sync with the Ethereum blockchain. Geth v1.11.5 (Erszbat) contains various bug fixes, security patches, and protocol updates that improve the network’s overall performance, security, and stability. Erszbat is the latest version of Geth and comes with significant improvements over its predecessors, including performance enhancements, better memory management, and support for new features such as Access List Transactions.

What is the Shanghai Main Network Upgrade?

The upcoming Geth v1.11.5 (Erszbat) release will enable the Shanghai main network upgrade. This upgrade is part of Ethereum’s ongoing efforts to improve network scalability and reduce transaction fees by implementing the Ethereum Improvement Proposals (EIPs). The EIPs that will be activated with this upgrade include:
– EIP-1559: This EIP proposes a new fee structure that aims to make transaction fees more predictable and reduce fees for simple transactions.
– EIP-3198: This EIP adds a new transaction type called “Access List Transactions” that improves network scalability by allowing DApps to optimize their transactions and reduce their gas costs.

How Will the Upgrade Affect Ethereum Users?

The upcoming Geth v1.11.5 (Erszbat) release and the subsequent Shanghai main network upgrade will not require any action from Ethereum users. However, the upgrade may lead to some temporary network disruptions, including slower transaction confirmations and higher gas prices. Ethereum users are advised to be patient and avoid making any urgent transactions during the upgrade period.

The Future of Ethereum

The Ethereum network has been evolving rapidly over the past few years with various upgrades, including the Beacon Chain and the upcoming Eth2 upgrade. These upgrades aim to make the network more scalable, secure, and sustainable, allowing it to support a growing number of DApps and smart contracts. With the upcoming Geth v1.11.5 (Erszbat) release and the Shanghai main network upgrade, Ethereum takes another step towards realizing its vision of becoming the world’s decentralized computing infrastructure.

Conclusion

The Ethereum network is set to undergo a major upgrade with the release of Geth v1.11.5 (Erszbat) by Go Ethereum. This upgrade will enable the activation of EIP-1559 and EIP-3198, leading to improved network scalability and reduced transaction fees. While this upgrade may lead to temporary network disruptions, the long-term benefits for Ethereum users and developers are significant.

FAQs

1. What is Geth in Ethereum?
Geth (Go Ethereum) is a command-line interface for running Ethereum nodes that sync with the Ethereum blockchain.
2. What is the Shanghai main network upgrade?
The Shanghai main network upgrade is the upcoming Ethereum network upgrade that will activate EIP-1559 and EIP-3198.
3. What are some benefits of the upcoming Ethereum network upgrade?
The upcoming Ethereum network upgrade will improve network scalability, reduce transaction fees, and introduce new features such as Access List Transactions.

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