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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-network-plans-major-update" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Network Plans Major Update</a><br></p>
<p style="text-align: justify">The Ethereum (ETH) network is gearing up for a significant update aimed at enhancing the developer experience. This forthcoming change to the Ethereum Virtual Machine (EVM) is set to be one of the most substantial updates to the platform’s programming environment in recent years. The Ethereum Improvement Proposal (EIP), known as “EVM Object Format” (EOF), has been under discussion among developers for quite some time and is anticipated to be part of a major update package called “Pectra” scheduled for 2024.</p>
<h2 id="what-benefits-will-developers-gain">What Benefits Will Developers Gain?</h2>
<p style="text-align: justify">EOF is expected to bring substantial advantages for developers, particularly those working with decentralized applications in programming languages like Solidity and Vyper. The primary aim is to make the current EVM environment more versatile and user-friendly. However, these delicate changes carry the risk of disrupting existing smart contracts. To mitigate this risk, developers will provide an option to retain the old version while introducing the new EVM version.</p>
<p style="text-align: justify">Parithosh Jayanthi from the Ethereum Foundation emphasized that EOF represents one of the most significant changes to the EVM, laying the groundwork for future updates. EOF is also viewed as a crucial step to bolster Ethereum’s leadership in the industry, as numerous Layer-1 Blockchain networks have adopted Ethereum’s <a href="https://newslinker.co/category/technology/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">technology</a> standards.</p>
<h2 id="what-are-the-potential-risks">What Are the Potential Risks?</h2>
<p style="text-align: justify">Despite its benefits, EOF brings potential risks. Some developers are concerned that the update could introduce unforeseen issues within the network. Prominent critic Marius Van Der Wijden suggested running EOF alongside the existing EVM, although maintaining two different EVM versions might be challenging. He also cautioned that new verification processes could result in errors.</p>
<p style="text-align: justify">However, a majority of core developers believe that the benefits of EOF to the Ethereum ecosystem will outweigh the risks. Independent developer Danno Ferrin argued that EOF is ready for implementation, solving many technical issues, and should be either implemented now or set aside entirely.</p>
<h2 id="developer-takeaways">Developer Takeaways</h2>
<ul>
 <li>EOF aims to enhance flexibility and user-friendliness for developers using Solidity and Vyper.</li>
 <li>The update includes a safety net allowing developers to use the old EVM version to avoid disruption.</li>
 <li>EOF could pose challenges in maintaining multiple EVM versions and new verification processes.</li>
 <li>Core developers mostly support the update, viewing it as beneficial despite potential risks.</li>
</ul>
<p style="text-align: justify">In summary, EOF is projected to significantly influence the future development of the Ethereum network. The update targets offering a more secure and user-friendly environment for developers while reinforcing Ethereum’s industry-leading position.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-network-plans-major-update" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Network Plans Major Update</a></h5>

Ethereum Network Plans Major Update

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