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Paradigm Shares Insights on Ethereum Hard Fork Prague and 2024 Plans

In a recent report, research-driven investment firm Paradigm shared their perspectives on the upcoming Ethereum hard fork, Prague, and their broader development plans for 2024. According to the report, the Prague hard fork is expected to make its debut on Ethereum testnets by Q3 2024, with a potential mainnet launch by the end of the same year.

The primary objectives for this hard fork include the incorporation of staking-related Ethereum improvement proposals (EIPs), specifically EIP-7002, which facilitates re-staking and trustless staking pools. Additionally, the Prague upgrade aims to introduce isolated Ethereum Virtual Machine (EVM) changes.

The report highlights several EIPs that the team considers priorities. Among them are EIP-7002, which unlocks trustless re-staking and staking pools; EIP-6110, which introduces deposits in the EL State; and EIP-2537, which deals with the BLS12-381 curve and its verification algorithm.

Regarding the Ethereum object format (EOF), the team expresses support for a well-scoped version that Solidity and Vyper will adopt. They recommend a set of EIPs related to EOF, emphasizing their potential benefits in terms of performance, contract size limit, and enhanced gas efficiency.

The team makes it clear that they are not supportive of Verkle Tries in Prague but are open to client teams starting work on it in Q2 2024, with deployment expected in Osaka in mid/late 2025. Additionally, they do not believe that increasing the L1 execution gas limit or contract size is necessary at this time, but they remain open to further investigation.

The Paradigm team acknowledges that the Ethereum roadmap is complex, with various proposals and considerations. While they express support for certain EIPs, such as EIP 7549 and 7251, they also stress the need for clarity in topics like CL/EL forks and data archival solutions for expired data and states.

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