Developers Endorse Two Ethereum Improvement Proposals (EIPs) for the Next Istanbul Upgrade
Two Ethereum Improvement Proposals (EIPs) have been approved to be included during Ethereum’s next majorupgrade scheduled for October, CoinDesk reports.
The two nodes are the first to be officially endorsed among the 28 EIPs that have been submitted for review and inclusion in Ethereum’s next system-wide upgrade or hard fork which has been dubbed, Istanbul.
On Friday, during a bi-weekly call, the devs deliberated on the EIPs to be endorsed and the ones to be rejected or postponed for a future system-wide upgrade. Most of the EIPs will need further deliberations but two have officially been endorsed for the October upgrade.
The Two Proposals in Details
The first EIP is 2024 in some documents or 131 in others. The node will add a fresh precompile to the Ethereum digital machine. According to the notes released precompiles are explained as costly operations within the Ethereum blockchain which deploy for a fixed cost or gas cost.
EIP 2024 will introduce a precompile for a fresh hush function known as Blake 2. This function is touted to be faster when it comes to verification as well as authentication of blockchain data compared to the traditional hash functions that are found in SHA-3.
Different strands of Blake 2 are at the moment being utilized in different crypto projects like privacy coin Zcash as well as domain-name network Handshake. EIP 2024 will introduce a precompile replacing Blake2 with Blake 2B. The statement explained:
“Blake2B means that we could interop with zcash on the ethereum main network,” said James Hancock, one of the three authors behind EIP 2024. “Wrapped ZEC within ethereum, [shielded] transactions, a whole lot of cool stuff.”
The second node is EIP 1702 which was proposed by Wei Tang from Parity Technologies. The node is set to enhance smart contracting in the Ethereum network.
Currently, all the decentralized apps (Dapps) which are running on Ethereum network are based on virtual immutability, the auto-executing lines of codes referred to as smart contracts. The smart contracts are assembled and executed using the Ethereum virtual machine that is touted as the central aspect of the blockchain platform which operates as the engine distributing the numerous Dapps built by developers.
The proposal seeks to upgrade the ethereum virtual machine that is in use to WebAssembly code but in the long-term. This will provide more flexibility in terms of programming language as well as performance.
The EIP 1702 also proposes the introduction of a fresh methodology for hard forks known as ‘account versioning’ in order to upgrade the ethereum virtual machine or bring forth fresh virtual machines in the platform in an easy way.
Will the first two Ethereum Improvement Proposals to be endorsed for inclusion in the next hard fork enhance the functionality of the blockchain? Share your views with us in the comments section.