Shanghai almost on our doorstep – Last September, Ethereum had finalized its transition to Proof of Stake. However, ETH deposited in staking still cannot be withdrawn. To remedy this, the developers are actively working to deploy theopening of withdrawals for the hard fork shanghai.
Shapella: the testnets take their course
The hard fork Shanghai is a major update for the Ethereum network. Indeed, it will allow validators to withdraw their ETH deposited in staking. A feature expected since the deployment of the beacon chain at the end of 2020. Since the launch of the beacon chain, $28.7 billion in ETH were deposited in staking. For information, this represents 14.5% of the ETH in circulation.
However, before its deployment on the mainnet, the update must be actively tested. With this in mind, it has been the subject of several devnets and other shadow forks.
On February 28 at 4:04 a.m. (UTC), the update Shanghai-Capella has been successfully deployed on the Sepolia testnet. Faced with this success, the developers began to plan the following events.
On March 2, during the 156th meeting which brought together the teams working on the execution layer, they decided to deploy the update on the testnet Goerli, March 14 next. Goerli will act as a general dress rehearsal. Indeed, the testnet should be the last step before deployment on the mainnet.
>> For your crypto purchases, register on the eToro platform (commercial link) <<
The Shanghai hard fork on the mainnet in mid-April 2023?
Following his tweet, Christine Kim reveals that the developers have also begun considering a rollout date on the mainnet. So, if the launch of the update on the Goerli testnet goes without a hitch, the hard fork could be deployed during the second week of April, namely between April 10 and April 16.
“If the Shanghai launch on Goerli goes smoothly, Ethereum stakers can expect a mainnet upgrade launch in the second week of April. »
Christine Kim
Let’s hope now that the deployment on Goerli goes as well as the one on Sepolia.
In parallel, the Ethereum network saw another major breakthrough. In fact, the developer Yoav Weiss announced that I’ERC-4437which allows the standardization of the account abstraction, passed the audits carried out by Open Zeppelin with flying colors. Account abstraction makes it possible to assume the use of seed phrases and could be a great ally to facilitate the adoption of cryptocurrencies.
Cryptos and blockchain technology are still young and volatile sectors. Any investment involves risk. As a well-informed investor, have you done your own research and decided to take the plunge? Current prices are an opportunity to add a few satoshis to your wallet! To do this, register on eToro (commercial link).