Early this morning, the Ethereum Sepolia tesnet passed the Shanghai and Capella updates, grouped under the contraction Shapella. Now it’s Goerli’s turn, before the full-scale hard fork on the mainnet.
Ethereum: on the way to the Shapella upgrade
The next big step in improving the Ethereum blockchain is symbolized by the Shanghai and Capella updates, grouped under the contraction Shapella. Early this morning, the Sepolia testnet successfully passed this upgrade:
Sepolia testnet has successfully upgraded to Shapella! ?
Some of the Prsym validators are offline due to the old geth version. They will come online in the next 10 mins!
Next stop: Goerli pic.twitter.com/pb43Gq7w9C
— terence.eth (@terencechain) February 28, 2023
When this long-awaited update rolls out to Ethereum, it will allow investors, if they choose, withdraw their ETH staked in the Beacon Chain smart contract. To date, this smart contract totals 17.37 million ETH, or approximately 14.42% of the entire capitalization.
This blockchain hard fork is being done in two parts: first, Shanghai, named in honor of the city that hosted Ethereum’s Devcon 2 in September 2016, make changes to runtime software. For its part, Capella, in reference to the most visible stellar system of the constellation of the Coachman, focuses on the consensus layer.
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Next step: the Goerli testnet, then the mainnet
Now that Shapella is functional on Sepolia, the next step is to reiterate this update, this time on another Ethereum testnet: Goerli. This hard fork should take place at the beginning of March.
If all the lights are green, it will then be Ethereum’s turn to take the plunge from mid-March, which constitutes in the next big step from the Mergewhich saw the blockchain transition to proof-of-stake last September.
Although it was not its primary function, The Merge notably had the effect of accentuating the deflationary phases of the capitalization of ETH. Thus, this capitalization was reduced by more than 39,000 ETH at the time of this writingsince the Paris update, while it would have increased by more than 1.9 million ETH if the consensus had remained at proof of work.
After this update, eyes will be on the future implementation of shardingsymbolized by “The Surge”, which is just one of the other major steps to improve the performance of Ethereum, a project that must be spread over many years.
? Also in the news – Testnet tokens on sale: Goerli’s gETH sees its price multiplied by 4
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Sources: Ethereum Foundation, ultra sound money
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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