Ethereum founder Vitalik Buterin has been quite active on social media lately, first reflecting on the previous direction of Layer2 and then outlining a new roadmap for Ethereum's future.

This has generated even more anticipation for the upcoming Ethereum Glamsterdam upgrade in the first half of this year. What are the key components of Glamsterdam, the most important update for Ethereum in the first half of this year?

Understanding the 'Current' by Looking at the 'Previous'

To understand Glamsterdam, we first need to understand its 'predecessor'—the Fusaka upgrade.

Fusaka was a data layer upgrade for Ethereum. It introduced two key features: PeerDAS and EOF.

PeerDAS: Instead of downloading all the data, you only need to download a small portion. It's like a sample survey; you don't need to ask everyone, just a small group to infer the situation of the whole population. Combined with ZK proofs, even if only 1/16th of the total data is downloaded, data integrity can be confirmed, significantly increasing Ethereum's network throughput.

EOF: This can be understood as an internal reform of the EVM. It makes the EVM's code structure clearer, more modular, and easier to optimize. EOF is like giving the EVM a 'renovation,' making its internal structure more rational.

If Fusaka was a 'data layer upgrade,' then Glamsterdam is an 'execution layer upgrade.' Fusaka primarily addressed 'how to transmit data,' while Glamsterdam aims to address 'who produces the blocks.'

The Core of Glamsterdam—ePBS and BAL

ePBS separates the block packaging and validation processes—block builders are responsible for packaging transactions, proposers for proposing blocks, and validators for validating blocks. If each role performs its part diligently, block builders can more aggressively package more transactions because proposers and validators will check their work, alleviating security concerns.

Can't Ethereum do this now? It can, but it relies on relays like Flashbots to separate 'proposing' and 'building.' Validators are only responsible for 'proposing blocks,' while builders package transactions to earn MEV (Maximal Extractable Value).

This creates a black box; the consequence of having to trust a third-party relay can lead to failures, censorship, attacks, or centralization.

ePBS makes this power separation mechanism protocol-native (EIP-7732), turning it into an 'on-chain auction + protocol enforcement,' solving the trust issue while also improving network efficiency.

The Block Access List (BAL) allows block packagers to inform validators in advance: 'The transactions in this block will access these accounts and storage locations.' With this information, validators can prepare in advance, loading this data from disk into memory. Then, validators can check multiple transactions in parallel instead of one by one. It's like an assembly line in a factory: previously, one worker was responsible for the entire product; now, multiple workers handle different parts simultaneously.

The combination of these two creates a dual reinforcement—efficiency improvement and anti-censorship.

However, for ePBS to reach its full potential, it needs another piece of the puzzle—the Fork Choice Forced Inclusion List (FOCIL). FOCIL allows validators to publish a 'must-include' list of transactions. If a builder does not include these transactions, validators can reject the block through the fork choice rule. This gives validators a 'last line of defense' against excessive censorship by builders.

However, launching ePBS and FOCIL simultaneously would be highly complex. Therefore, FOCIL's arrival will have to wait for the second upgrade this year, Hegotá.

Potential Impacts of Glamsterdam

In addition to ePBS and BAL, Gas repricing + multi-dimensional Gas will also be included in the Glamsterdam upgrade. This will make transactions cheaper for ordinary users and further increase the network's overall capacity, but it will correspondingly increase fees for some developers (those who need to build new state).

For stakers, the income model becomes clearer, block selection rights increase, and MEV earnings become smoother. This also means the MEV ecosystem will change, and some applications that rely on current methods to earn MEV may need to adapt.

As validator power increases, new application opportunities will emerge. For example, new 'validator service' applications might appear to help validators better select blocks.

But the Glamsterdam upgrade is certainly not perfect. As mentioned earlier, while ePBS will arrive in this upgrade, it is not the complete version with FOCIL. The complexity of this update is quite high, and it also gives validators more power. Besides the post-launch stability, whether this decentralization of power will lead to a new form of centralization at the validator level is also a point worth watching.

Vitalik also admitted, 'ePBS only prevents builder centralization from spreading to the staking layer, but the problem of block builder centralization itself remains.' Toxic MEV (sandwich attacks, front-running) might just 'move elsewhere' and continue to exist.

However, in the long run, the greatest significance of the Glamsterdam upgrade might be 'decentralization.' Vitalik's persistence and idealism regarding decentralization theory might make traditional finance and even the world trust Ethereum's adoption more. Time may provide the true answer to the value of this persistence in Ethereum's price.

Since last year, Ethereum's major updates have increased to twice a year. No longer complacent, Ethereum, now 'racing against time,' might truly regain its glory.