Ethereum is an open-source public blockchain platform with smart contract capabilities. It has undergone many upgrades since its launch. Here are some of the major upgrades:
Byzantium Upgrade
- Date: October 2017.
- Main content: including the optimization of Ethereum Virtual Machine (EVM), which improves the execution efficiency of smart contracts; the introduction of the "replay protection" mechanism to solve the transaction replay problem that may occur after the hard fork; and the adjustment of economic model parameters such as block rewards.
- Impact: Improved the performance and security of the Ethereum network and laid the foundation for subsequent upgrades.
Constantinople Upgrade
- Date: February 2019.
- Main Content: Further optimized the performance of the EVM, reducing the execution cost of smart contracts; modified the difficulty adjustment algorithm to stabilize block generation time; and improved some underlying protocols, enhancing network scalability.
- Impact: Increased the efficiency and stability of the Ethereum network to some extent, promoting the development of the Ethereum ecosystem.
Istanbul Upgrade
- Date: December 2019.
- Main Content: Introduced new opcodes, providing more features and flexibility for smart contract developers; optimized Ethereum's storage structure, reducing storage costs; while also enhancing the network's security and privacy protection.
- Impact: Enriched Ethereum's functionality, attracting more developers and users to participate in the Ethereum ecosystem.
Berlin Upgrade
- Date: April 2021.
- Main Content: Adjusted the transaction fee structure, introducing the EIP-1559 proposal, making transaction fees more predictable and reasonable; also optimized and restricted some operations of smart contracts, enhancing network security.
- Impact: Improved user experience, reduced user transaction costs, and also enhanced the network's resistance to attacks.
London Upgrade
- Date: August 2021.
- Main Content: Fully implemented EIP-1559, changing Ethereum's fee market mechanism; also introduced a difficulty bomb delay mechanism, buying more time for the transition to Ethereum 2.0.
- Impact: Optimized the transaction fee mechanism, making Ethereum network's economic model more reasonable and sustainable.
Merge Upgrade
- Date: September 2022.
- Main Content: Merged Ethereum mainnet with the Beacon Chain, transitioning Ethereum from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) consensus mechanism.
- Impact: Significantly reduced energy consumption, improved network security and scalability, marking an important milestone in the history of Ethereum's development.$ETH
