Ethereum’s London Upgrade to Include 5 EIPs

The team at the Ethereum Foundation has put a particular emphasis on the security of the London Upgrade by doubling all bounties related to the code before the upgrade happens.

The Ethereum Foundation’s statement on this matter can be found below.

Bug Bounties For Ethereum’s London Upgrade to Be Doubled

In order to get more eyes on the changes coming in the London upgrade, all bounties for vulnerabilites related to London upgrade will be doubled, up until the upgrade happens. Examples of issues that would be eligible for a doubly are cross-client consensus issues between the following clients: Geth, Besu, Nethermind, OpenEthereum and Erigon.

Once activated, the London Upgrade will thus introduce the following Ethereum Improvement Proposals on the Ethereum Mainnet.

  • EIP-1559 – This is the highly anticipated Ethereum Improvement Proposal aimed at solving the issue of high gas on the ETH network by introducing a base fee that changes according to network congestion. The base fee will also be burnt with each transaction with users adding a ‘priority fee’ to incentivize miners to process their transactions
  • EIP-3198 – This will add an opcode that gives the Ethereum Virtual Machine access to the block’s base fee
  • EIP-3529 – Which removes gas refunds for SELFDESTRUCT and reduce gas refunds for SSTORE
  • EIP-3541 – Rejects new smart contracts starting with 0xEF
  • EIP-3554 – Delays Ethereum’s difficulty bomb to the first week of December 2021

Ethereum’s highly anticipated London Upgrade is now ready for mainnet activation after it was successfully deployed on all three testnets of Ropsten, Goerli and Rinkeby.

This is according to a blog post by the Ethereum Foundation that also confirmed that the London Upgrade will be activated on block 12,965,000 which is expected to occur between August 3rd and 5th of this year.

  • Ethereum’s London Upgrade has had a successful testnet deployment
  • The Ethereum upgrade is now ready for activation on the mainnet
  • The London upgrade will go live on block 12,965,000 expected to occur between August 3rd and 5th of this year
  • A total of 5 EIPs will be implemented including the highly anticipated EIP1559
  • Bug bounties related to the London Upgrade have been doubled up until the upgrade happens

Leave a Reply

Your email address will not be published. Required fields are marked *