On their latest AllCoreDevs call, Ethereum core developers agreed to addEIP-7514 as part of the forthcoming Ethereum Dencun upgrade, focusing on staking and validator rewards. EIP-7514 will establish a fixed Max Epoch Churn Limit for the validator activation queue, setting the upper limit to eight (this variable was previously derived from “total number of validators/65536”, which is approximately 12/epoch) and without affecting the withdrawal queue. This Epoch Churn Limit will change the validator growth rate from exponential to linear.
The proposal is intended to address concerns about the rapid growth of the Ethereum network and aims to slow down the growth of the ETH staking rate, thereby providing the Ethereum community additional time to craft an improved validator reward scheme. The latest data shows there are currently about 26.85 million ETH staked, which represents 22.32% of the total ETH supply.
News Highlights
Ethereum’s Holesky testnet, which was intended to address scaling issues and celebrate the first anniversary of The Merge, failed to launch because of a misconfiguration in the genesis files. Developers are planning for another launch attempt in about two weeks.
The Cosmos Hub has implemented the Gaia v12 upgrade to integrate a liquid staking module onto the network. The upgrade allows ATOM tokens staked with Cosmos Hub validators to be swapped into liquid-staked ATOM and eliminates the 21-day locking period applied for unstaked ATOM.
Polygon Labshas begun the groundwork on an expansion that aims to include all blockchains and applications on the Polygon network as part of its Polygon 2.0 roadmap. The expansion will introduce a new governance structure focusing on the expansion of the existing Polygon Improvement Proposal (PIP) framework, the ‘System Smart Contracts Governance’, and the ‘Community Treasury’ mechanism.
Layer-2 blockchain Optimism has completed its third community airdrop, distributing a total of 19,411,313 OP tokens worth US$27 million to over 31,000 unique addresses.
Eclipse has announced the launch of its Ethereum SVM L2 mainnet, which will integrate multiple blockchain technologies to provide a powerful and efficient environment for dapps and transactions. The mainnet will utilise Ethereum for settlement, ETH as the gas token, Solana Virtual Machine (SVM) as the execution environment, Celestia for extended data availability, and RISC Zero for ZK fraud proof.
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Ethereum’s new Holesky testnet delayed after launch failure. Cosmos Hub rolls out Gaia v12 to add a liquid staking module. Optimism announces third round of community token airdrops.
