How can the Shanghai upgrade improve the performance of Ethereum transactions?

3 answers

• Nov 23, 2021 · 3 years ago
  The Shanghai upgrade introduces several key improvements to enhance the performance of Ethereum transactions. Firstly, it implements the EIP-1559 proposal, which aims to improve the transaction fee mechanism by introducing a base fee and a priority fee. This helps to reduce congestion and increase transaction throughput. Additionally, the upgrade includes the implementation of the Ethereum Improvement Proposal (EIP) 3541, which introduces the concept of state expiry. This helps to remove unnecessary data from the Ethereum network, further improving transaction performance. Overall, the Shanghai upgrade brings significant optimizations to the Ethereum network, resulting in faster and more efficient transactions.
  720360
• Nov 23, 2021 · 3 years ago
  With the Shanghai upgrade, Ethereum transactions are expected to experience improved performance. The upgrade introduces the EIP-1559 proposal, which aims to make transaction fees more predictable and efficient. This can help reduce network congestion and ensure faster transaction confirmations. Additionally, the implementation of state expiry through EIP-3541 helps to optimize the storage of data on the Ethereum network, leading to improved transaction processing speed. Overall, the Shanghai upgrade is a significant step towards enhancing the scalability and performance of Ethereum transactions.
  603201
• Nov 23, 2021 · 3 years ago
  The Shanghai upgrade, which is part of Ethereum's ongoing development, brings several improvements to enhance the performance of Ethereum transactions. It introduces the EIP-1559 proposal, which aims to improve the transaction fee mechanism by introducing a base fee and a priority fee. This helps to address the issue of high transaction fees during periods of network congestion, making transactions more affordable and efficient. Additionally, the implementation of state expiry through EIP-3541 helps to optimize the storage of data on the Ethereum network, improving transaction processing speed. These improvements contribute to a more seamless and efficient experience for Ethereum users.
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