Ethereum Developers Confirm April 12 Upgrade to Shapella

ETH Staking will begin on April 12, 2023, according to a blog article published by the Ethereum development team after the 157th AllCoreDevs Execution Layer conference.

The update is the final phase before ETH stored in a smart contract on Ethereum’s Beacon Chain can be unstaked by the proof-of-stake network validators.

This news follows the effective deployment of the Shapella branches on the Goerli and Sepolia testnets by the project’s creators.

Ethereum’s agreement method was shifted from proof-of-work to proof-of-stake with the most recent update, the Merge, which combined the Beacon Chain and the Ethereum Virtual Machine (EVM).

The Shapella update incorporates the Shanghai Ethereum Virtual Machine and the Capella consensus layer. Alterations were also made to the Engine API, which serves as a bridge between the two levels.

Shapella supports transfers and has implemented EIP-3651, EIP-3855, EIP-3860, EIP-4895, and EIP-6049 to better the Ethereum network. EIPs are protocols that define possible additions to Ethereum or new processes.

Validators, rather than miners, verify transaction blocks and broadcast them across the Ethereum network in the new agreement process.

Investors who prefer to retain their ETH in an open state can pledge their coins in a system that does not freeze their funds. Using these methods, investors can profit from validators verifying transactions by receiving ETH compensation. They also get access to a liquid form of the ETH they pledged, which they can use to generate profits through several different DeFi networks.

Read Also: Pro dealer expects Bitcoin to drop to $13k before significant rise as "financial crisis 2.0" begins

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

Comments are closed.