Ethereum Developers have scheduled the Shanghai Upgrade in April post Goerli Testnet
After the Goerli testnet announcement, Ethereum developers have shifted the Shanghai upgrade to April. This will enable faster and more efficient transactions on the Ethereum network. Read more about the upgrade here.
Ethereum news is just the ‘it’ thing in crypto domain, thanks to the several upgrade the network has lined up for itself. Starting from last year, when the Ethereum Merge finally went live on September, Ethereum has been dedicated to incorporating the next big upgrade, the Shanghai Upgrade.
As the upgrades have been first tested on the testnets for smooth transition on the network, the final dress rehearsal for Shanghai has been set to take place on March 14, 2023, while the real upgrade has been shifted and is now stated to happen a few weeks later. The date that has been initially estimated was late March. However, the Shanghai upgrade is now likely to be executed sometime during the first two weeks of April. The delay in deploying the upgrade was announced at an Ethereum developer meeting that took place on March 2, 2023.
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During the developers meeting on March2, the core developers of Ethereum came to the consensus that the hard fork is likely to take place in about a fortnight after the Goerli testnet has been launched. The Goerli testnet has been given the date of March 14, 2023. Similar to the Merge, this Goerli testnet will be the final dress rehearsal for the Shanghai hard fork before it is rolled out on the mainnet.
So looks like Goerli testnet is getting upgraded to Shapella
Epoch: 162304
Time: 3/14/2023, 10:25:36 PM UTCSee ya on the other side!
— terence.eth (@terencechain) March 2, 2023
Tim Beiko, the Ethereum core developer and project coordinator said, “For mainnet we usually want to give people at least two weeks after the announcement. so imagine Goerli happens on the 14th, everything goes well, on the 16th we agree to move forward with mainnet — I think the earliest that puts us is like the first week of April.”
Client teams felt comfortable moving forward with Goerli, which we agreed to fork on March 14, 10:25pm UTC. I’ve opened a PR to update the specs accordingly: https://t.co/tvcFBCidx5
Expect client releases & an announcement early next week 👀
— timbeiko.eth (@TimBeiko) March 2, 2023
The Shanghai Capella upgrade, commonly referred to as Shapella, to the Goerli testnet will be the last chance for the Ethereum clients and the staking providers to ensure that the Shanghai hard fork can go through seamlessly when it is launched on the Ethereum mainnet.
In order to maintain network stability and security, the ETH withdrawals will be dynamic and will be dependent on how many validators who are present are exiting at the time. The validators have to undergo a two-stage process which involves an exit queue and a withdrawal period. Thus, it will take place gradually over time.
Read More: Top Ethereum Improvements Proposal Explained
According to data, there is currently 17.1 million ETH that is staked on the Beacon Chain. The volume represents just over 14% of the entire supply!
Source: beaconcha.in
Source: Cointelegraph
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