Ethereum Users Excited in Anticipation of Shanghai Hard Fork

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.



The $26 billion (and counting) worth of Ethereum (ETH) pledged on the biggest smart contract network in the world is now one step closer to being accessible to Ethereum users.

The first mainnet shadow fork intended to test the viability of the ETH staking withdrawal capability, a feature planned to activate by March, was successfully deployed, according to an announcement made on Monday by Ethereum’s core developers.

Mainnet shadow forks are complete system upgrade dress rehearsals that let engineers check for design flaws and fix any lingering problems. The test on Monday gave users a sneak peek at Ethereum’s much-awaited Shanghai update, which will bring staked ETH withdrawals to the ecosystem.

The network switched to a proof-of-stake architecture after Ethereum’s historic Merge on September 15, 2022, and Shanghai will be the first significant update since then. The Merge also made it possible for users to deposit ETH with the network in order to sign on-chain transactions and become validators. Such users have consequently been able to earn incentives in the form of freshly created ETH.

Since December 2020, users have staked about $26.5 billion worth of ETH in order to receive these benefits. However, once Shanghai is put into place, those users won’t be able to withdraw either their freshly created ETH or their initial ETH deposits.

The first ETH withdrawal mainnet shadow fork successfully launched on Monday, according to Ethereum core engineer Marius Van Der Wijden, despite a few small glitches that have since been fixed.

All things considered, this indicates that Ethereum will continue to deploy ETH withdrawal functionality over the next five to eight weeks.

Ethereum Lacks Volume To Support Caps, According to Santiment

Ethereum Developers Working Tirelessly to Meet Deadline

The network’s core developers have made meeting that deadline a major priority. They are anxious to bring about ETH withdrawal functionality as soon as possible—even at the expense of other advancements.

Proto-danksharding, a streamlined data sampling procedure that would make layer-2 transactions on Ethereum significantly cheaper and faster, and EOF, a much-needed and years-delayed update to the Ethereum Virtual Machine (EVM), the mechanism underlying the network that deploys smart contracts, were among the additional, highly anticipated improvements that Shanghai was initially expected to include. However, these changes were delayed to ensure that ETH withdrawals could start in March.

 

You can purchase Lucky Block here. Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *