Shanghai on the horizon – After finalizing its transition to Proof of Stake, the network Ethereum continues to evolve. Thus, it is now preparing for the deployment of Shanghai, the update that will release the ETH deposited in staking.
Shanghai: from testnet to mainnet
In September 2022, the network Ethereum finalized its transition from Proof of Work to Proof of Stake. The next step is to open withdrawals of ETH deposited in staking.
Indeed, since the launch of the beacon chain, ETH deposited in staking on Ethereum cannot be withdrawn.
Fortunately, the hard fork Shanghai planned for the month of March will allow stakers to recover their ETH.
In the meantime, the update is actively being tested on the testnet. So, on February 1, the Ethereum Foundation announced the launch of the Zhejiang testnet.
“The Zhejiang test network is up and running, allowing operators and users to test Shapella today. »
In practice, updating shapella (the contraction of Shanghai and Capella) will introduce many features:
- Full withdrawals will be available for outgoing validators;
- Partial withdrawals will be available for active validators with a balance above 32 ETH.
Finally, on February 7, the withdrawals have been successfully activated on the Zhejiang testnet.
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Testnet Sepolia before the arrival on the mainnet
Given the success of Zhejiang, the developers were able to determine a date for the update to be rolled out to historical Ethereum testnets, such as Sepolia.
Thus, on February 9 during the meeting of the developers, the latter decided that the update Shanghai would be deployed on February 28 on the testnet sepolia.
“In parallel, the first of the long-standing public testnets, Sepolia, is scheduled to be upgraded on February 28. »
For its part, the world of staking has been turned upside down by the decision of the SEC. In fact, this one has forced the Kraken company to stop its staking activities.
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