Proposal introduces variable-length public keys and an irreversible migration switch to phase out legacy BLS deposits on Ethereum.
Ethereum developers have proposed a post-quantum-ready deposit contract to replace the current BLS-based system. The new design supports variable-length public keys and credential metadata, using scheme identifiers to distinguish cryptographic methods while preserving backward compatibility for existing BLS deposits.
The proposal replaces the legacy Merkle-tree mechanism with execution-layer requests under EIP-7685. It includes an irreversible migration switch to first enable, then permanently disable, new BLS deposits as Ethereum transitions to post-quantum signatures.
No immediate market reaction was reported following the announcement.