Updated: 1 year
• Ethereum developers are launching the Shanghai Capella testnet this week, which includes a Maximum Extracted Value (MEV) Boost run by validators.
• The launch follows The Merge and enables validators to withdraw their stake from the Beacon Chain back to the execution layer.
• Despite recent upgrades, Ethereum still has a long way to go in its development process before reaching a “sufficient end state” for a functional, secure, and decentralized blockchain.
Ethereum Developers Launch Shanghai Capella Testnet
The Ethereum development team is preparing to launch the Shanghai Capella testnet this week, which includes an open-source middleware run by validators called Maximum Extracted Value (MEV) Boost. This allows validators to access blocks from a marketplace of builders, built by Flashbots as an implementation of Prosperity Builder Separation (PBS).
The Merge Activates Shanghai Upgrade
Tim Beiko, an Ethereum core developer, recently announced the dates and final client releases for the Shanghai activation and Sepolia testnet on his blog. After months of testing and devnet launches, The Merge has activated both the Zheijang testnet and Devnet7 alongside the Shanghai upgrade. This upgrade will enable users to transfer their stake from the Beacon Chain back to the execution layer.
Ethereum Still Has A Long Way To Go
Despite recent progress with network upgrades, Ethereum Foundation researcher Danny Ryan emphasizes that there is still quite a long road ahead before reaching a “sufficient end state” for a fully functioning blockchain protocol. Vitalik’s roadmap document outlines many years ahead until all components are complete, so there are still immediate technological concerns that need addressing within the Ethereum network.
MEV-Boost Marketplace Offers Competitive Block Building Market
The MEV-Boost marketplace offers competitive block building opportunities for validators utilizing PBS technology from Flashbots. Validators can access these blocks through an open-source middleware allowing them greater access and competition in this market space than ever before seen on any blockchain platform.
Conclusion: Progress With Network Upgrades Continues