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What is the Ethereum Arrow Glacier upgrade?

The Ethereum Arrow Glacier upgrade is a planned system-wide upgrade to the Ethereum network that is expected to improve the security, scalability and performance of the network.

One of the main components of the Arrow Glacier upgrade is the introduction of a new Ethereum Virtual Machine (EVM) called Ethereum 2.0 (or simply Eth2). The EVM is the runtime environment for smart contracts on the Ethereum network, and the new version is expected to be more efficient and capable of handling a higher throughput of transactions.

Another important aspect of the upgrade is the introduction of shard chains, which is a way to divide the Ethereum network into multiple smaller networks or "shards." Each shard can process transactions independently, which is expected to greatly increase the scalability of the network.

In addition, the Ethereum Arrow Glacier upgrade also includes several other improvements such as:

  • Reducing the minimum gas price for transaction to help increase the number of transactions that can be processed on the network
  • Introduce a new consensus mechanism called the “shard block finality gadget”, to increase the security and finality of blocks.
  • Enabling better interoperability between different shard chains,
  • Improved support for zero-knowledge proof based privacy and confidentiality.

The upgrade is planned to be implemented in multiple stages, and is not currently scheduled yet. Ethereum community is constantly working to improve and upgrade the network, so this plan might change.

It is important to note that network upgrades like this can have significant implications on the network and its users. Before the upgrade, it's advisable to stay informed and follow the guidance provided by Ethereum developers and leaders.