Introduction to Ethereum and EIPs

Ethereum is a decentralized platform that allows blockchain developers to build and deploy decentralized applications (dApps) using smart contracts. These contracts are self-executing computer programs that are automatically executed when certain predefined conditions are met, eliminating the need for intermediaries and increasing transparency and security in transactions.

Ethereum was proposed by Vitalik Buterin in late 2013 and its mainnet was launched on July 30, 2015. Since then, it has evolved to become one of the most important blockchain platforms in the world, powering a wide variety of applications in sectors such as finance, logistics, intellectual property and many others.

EIPs, or Ethereum Improvement Proposals, are design documents that provide feedback to the Ethereum community or describe a new feature for Ethereum or its processes. Each EIP must contain a concise technical specification of the feature and a justification for the feature. These proposals are reviewed by the community and, after a process of discussion and approval, can be implemented in the network.

EIPs are essential to the continued development and evolution of Ethereum. They allow the community to collaborate and agree on technical and protocol improvements, ensuring that the platform can adapt and grow to meet the changing needs of its users. This open and participatory process is one of Ethereum’s strengths, enabling constant and decentralized innovation.

Context of EIP-7732

The main motivation behind EIP-7732 lies in the need to overhaul the block validation process and accelerate the blockchain. With the increasing use of Ethereum for various applications, from decentralized finance (DeFi) to non-fungible tokens (NFTs), certain limitations and challenges have been identified in the current network.

The new EIP-7732 (Ethereum Improvement Proposal 7732) proposes significant changes to the Ethereum network block validation process. This EIP, known as the “Enhanced Proposed Building-Building Separation” (EPBS), aims to improve efficiency and safety by separating consensus and execution responsibilities during block creation.

Technical Details of EIP-7732

• Separation of the Validation ProcessEIP-7732 introduces a clear division between consensus and execution tasks. Consensus validators will be responsible for validating the consensus status without having to validate the execution of transactions immediately. This separation will allow validators to concentrate on a specific task, thus improving efficiency and reducing workload. It does so by introducing a new optional attribution (builder) and a new duty (payload timeliness certifications) to Ethereum validators. The ExecutionPayload field of the BeaconBlockBody is removed and instead replaced by a signed commitment (SignedExecutionPayloadHeader object) of a constructor to later reveal the corresponding execution payload. This commitment specifies in particular the block hash of the execution block and a value to be paid to the proponent of the beacon block. When the BeaconBlock is processed, the committed value is deducted from the builder’s beacon chain balance and credited to the proponent of the beacon block. A subset of validators in the beacon committee is assigned to the Payload Timeliness Committee (PTC), these validators are tasked with certifying (by transmitting a PayloadAttestationMessage) whether the corresponding constructor has disclosed the committed execution payload (with the correct block hash) in a timely manner. PTC members are not required to validate the execution payload, so the execution validation is postponed until the next validation of the beacon block.

• Role of Block Builders: A new optional role is introduced for block builders, who will be responsible for creating the execution block. Consensus validators will be responsible for selecting these builders and validating their contributions separately, which reduces the need for trusted intermediaries and promotes a fair and secure exchange among participants.
• Load Timeliness CommitteeThis committee ensures that blocks are sent on time, which improves the overall efficiency of the network and reduces the chances of chain reorganization.

Implementation and Operation

The implementation of an EIP such as 7732 in the Ethereum network follows a rigorous and well-structured process that ensures its correct operation and compatibility with the existing network. This process includes several phases:

1. Proposal and Initial Discussion: Once the proposal is drafted, it is submitted for discussion in the Ethereum developer community. Comments and suggestions that may lead to modifications in the EIP are received here.
2. Technical ReviewThe EIP is reviewed by a group of developers and security experts to assess its technical feasibility and detect possible bugs or vulnerabilities. This phase is crucial to ensure that the proposal is sound and secure.
3. Testnet implementationIf the proposal passes the technical review, it is implemented in a testnet. This phase allows the EIP to be tested in a controlled environment, identifying and resolving any problems before being launched on the main network.
4. Security AuditBefore its final implementation, the EIP undergoes a comprehensive security audit. External companies and experts review the code and security mechanisms to ensure that there are no vulnerabilities.
5. Mainnet Approval and LaunchIf all the above phases are successful, the EIP is approved and implemented on the mainnet. This may require a hard fork of the network to include the proposed changes.

Steps for adoption by nodes and validators

The adoption of EIP-7732 by Ethereum network nodes and validators is a crucial process for its success. The steps include:

1. Software UpgradeNode operators and validators must update their software to incorporate the EIP-7732 changes. Major Ethereum implementations, such as Geth and OpenEthereum, release new versions that include the EIP.
2. Compatibility TestingNode operators perform tests to ensure that the new software version is compatible with their configuration and does not introduce problems.
3. Participation in the TestnetBefore updating on the mainnet, many nodes and validators participate in the testnet to make sure that everything works correctly.
4. Coordinated UpdateTo avoid network problems, the update must be coordinated. The community sets a specific date and time for the update, ensuring that most nodes and validators adopt the EIP at the same time.
5. Continuous Monitoring and SupportAfter deployment, developers and node operators monitor the network to detect and fix any problems that arise.

Benefits of EIP-7732

• Increased Efficiency and SpeedBy separating the consensus and execution layers, transaction confirmation times can be significantly improved, overcoming past inefficiencies and enabling faster confirmation times comparable to traditional payment systems such as credit cards.
• Enhanced Security: Eliminating the need for trusted middleware and ensuring fair and honest payments between proponents and block builders increases the security of the network. This also reduces the likelihood of validators missing important validations.
• Better Use of Slot TimeValidators will be able to better utilize the time allotted for each block by focusing on consensus state transitions first and leaving execution validation for later, which can facilitate faster network propagation and improve overall performance.

In summary, the EIP-7732 aims to optimize the Ethereum network by separating key tasks in the block validation process, improving both efficiency and security and responding to the growing demands of applications that require fast and reliable executions.

How has the community reacted to the new EIP-7732?

Community reactions to the new EIP-7732 have been mixed, but have generally shown positive interest and high expectations for the proposed improvements.

Many community members and developers have positively rated the proposed EIP-7732 for its potential to improve the efficiency and speed of the Ethereum network. The proposal to separate the consensus and execution functions has been seen as a significant step towards optimizing transaction processing, which could reduce confirmation times and increase the network’s capacity to handle a higher volume of transactions.

Another positive aspect highlighted is the potential reduction in transaction costs. By improving the overall efficiency of the validation process, it is expected that gas rates could decrease, which would benefit users and developers who rely on the grid for their applications.

The separation of the consensus and execution layers is also expected to improve network security. By eliminating the need for trusted intermediaries and ensuring fair exchanges between block builders and proponents, several potential attack vectors are mitigated, strengthening the resilience of the network against threats.

Despite the optimism, some community members have expressed concerns about the complexity of implementing EIP-7732. The proposal involves significant changes to the block validation structure, which requires careful evaluation and thorough testing to avoid potential problems during deployment. Others have pointed out that the changes could have unforeseen implications for the Ethereum ecosystem. It is crucial that the community evaluate not only the potential benefits, but also the potential drawbacks, to ensure that EIP-7732 does not introduce new vulnerabilities or operational problems.

Conclusion

EIP-7732 represents a significant advancement for the Ethereum network, focused on improving the efficiency, security and speed of transactions by separating the consensus and execution functions in the block validation process.

This is an ambitious proposal that seeks to take Ethereum to new levels of efficiency, security and speed. If implemented correctly, it could cement Ethereum as one of the most robust and scalable blockchain platforms, suitable for a wide variety of decentralized applications. However, the complexity of the changes requires careful consideration and collaboration from the entire community to ensure their long-term success and sustainability.