Ethereum
Everything about Ethereum’s latest Plectra update
- Ethereum developers discuss the Plectra upgrade on a recent call.
- Following backlash from the community, the Ethereum Foundation was considering introducing a conflict of interest policy.
Ethereum [ETH] The optimistic sentiment continued to grow as prices remained above the $3,700 level. Even though the price of ETH has fluctuated significantly over the past, new developments on the network have taken place without any hindrance.
Developments continue
Ethereum developers held a meeting to discuss a planned upgrade to the Ethereum Beacon chain called Pectra. This upgrade is designed to improve network functionality.
During the meeting, developers debated which features to include in the upgrade and when to launch it. Some features, like EIP 7549, are confirmed for inclusion. Others, like EIP 7688, were still under study.
A key topic of discussion was PeerDAS, a new technology that would significantly improve the network’s ability to manage data. Although developers are excited about PeerDAS, they are concerned that its inclusion in Pectra could delay the upgrade.
To avoid this delay, they considered splitting Pectra into two parts, but this approach also has drawbacks.
Ultimately, the developers decided to move forward by testing the planned features for Pectra and PeerDAS together.
PeerDAS will be enabled on test networks later than other features. They will decide whether or not to include EIP 7688 at a future meeting.
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Ethereum in the middle of drama
These developments and discussions occurred against the backdrop of controversy that took place before the founding of Ethereum.
The controversy began on May 18 when prominent crypto trader Jordan Fish, known as Cobie, publicly questioned Ethereum co-founder Vitalik Buterin about the ethics of EF developers receiving substantial financial incentives for projects built on the network.
Cobie’s tweet specifically cited EigenLayer as an example, sparking widespread discussion on social media about potential conflicts of interest.
Following Cobie’s tweet, Justin Drake, a researcher at the Ethereum Foundation, revealed his advisory role at EigenLayer on May 19.
Drake revealed that he received a significant incentive in the form of Eigen tokens, estimated to be worth millions of dollars over a three-year vesting period.
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This disclosure has increased concerns about transparency and potential conflicts of interest between EigenLayer and the Ethereum Foundation.
Drake also clarified that the information had been public since May 3 and that the timing of the disclosure with Cobie’s tweet was a coincidence.
On May 21, another Ethereum Foundation researcher, Dankrad Feist, revealed his advisory role at EigenLayer.
Feist, known for his work on danksharding, confirmed that he had also received a significant allocation of EIGEN tokens and assured the community that his advisory role would not influence his positions on the development of EigenLayer.
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The Ethereum Foundation was considering implementing a formal conflict of interest policy following this backlash from the community. ETH remained relatively unaffected during this period.
At press time, ETH was trading at $3,788.47 and its price increased by 0.56% in the last 24 hours.