The Ethereum Glamsterdam update has been delayed in the Hoodi testnet following possible security threats that can be related to the already created smart contracts.
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The new date has not yet been announced, as the current one was set for October 26. Meanwhile, at the time of writing, ETH is trading at $2,395 with a 24-hour trading volume of $11.63 billion and a market cap of $ 292.71 billion. ETH price decreased by 0.24% over the last 24 hours.
The delay of Ethereum has been announced by the Ethereum Foundation due to some apprehensions about the proposed gas accounting mechanism. The developers require additional time to see the impact of such a mechanism on the smart contracts that have been deployed on the Ethereum mainnet.
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Ethereum Glamsterdam Delay Raises Questions About Mainnet Launch
The Ethereum Glamsterdam update has left everyone in suspense about its wider implementation. It was thought that December could be a suitable time frame for deploying the update on mainnet; however, an exact date was not finalized.
Due to the delay of the Hoodi tests, the timeline for December is still up in the air, and developers need to identify what has happened and whether any changes need to be made.
Hoodi is essential for testing whether the Ethereum Glamsterdam upgrade functions as intended before it gets deployed on the main network. The upgrade that has been canceled was also scheduled to have an increase of the gas limit to 200 million. This feature has been delayed as well, along with the upgrade itself.
At the moment, there hasn’t been any announcement regarding the future date for activation. Compatibility issues must be solved first before testing can continue.
From an ETH perspective, the Ethereum Glamsterdam delay is a milestone to watch for rather than an actual change on the live blockchain. If there are further delays, there will be more uncertainty about the update. However, if there is a new testing schedule, that will make everything clear.
Smart Contract Security Concerns Behind Ethereum Glamsterdam
The key issue pertains to the EIP-8037, which is an update proposal in the area of the gas cost computation for building the Ethereum blockchain state. Experts have highlighted possible implications related to the impact of the changes on the existing smart contracts that rely on particular gas limits in case of failure.
Experts from security company ChainSecurity have found cases where the new proposal could result in different levels of gas being available for smart contracts than anticipated.
This research is crucial because current smart contract implementations are built according to Ethereum’s current specifications. If there is an upgrade to Ethereum’s gas algorithm implementation, strange things can happen within those applications, despite no changes being made to the code.
Ethereum Glamsterdam’s delay provides more time to research those concerns and take necessary steps before proceeding. The decision has been taken regarding the activation of the Hoodi testnet.
The developers need to find out if there are any changes that should be made or added to the EIP-8037 before the next test process starts. This will make it possible to know how the Ethereum Glamsterdam update will work without any issues.
What the Ethereum Glamsterdam Upgrade Aims to Introduce
Even with the delay, Ethereum Glamsterdam is still on the development timeline of Ethereum. This update is said to include various modifications geared towards enhancing the process of transaction handling and block management.
There are two proposed enhancements, which include proposer-builder separation and block-level access lists. Proposer-builder separation is meant to define the roles of the parties in block construction and proposal, while block-level access lists will help with state access information of a block.
These modifications will be a component of a wider set of actions to enhance the efficiency of Ethereum and its future development. At the moment, however, the primary task is to solve the security and compatibility issues revealed in the process of EIP-8037 assessment.
The further actions that need to be undertaken by Ethereum Glamsterdam are researching the aforementioned threats, making conclusions about the necessity of any modifications, and publishing the new date for the Hoodi tests.
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