Ethereum Developers Target March 2023 for Shanghai Hard Fork


Quick Take

  • Ethereum core developers set a tentative target of March 2023 for the next network upgrade, called Shanghai.
  • The planned change will make it possible to withdraw ether staked with network validators.

Ethereum developers are targeting March 2023 for the next hard fork, called “Shanghai,” that will make it possible to withdraw ether staked with network validators.

Stay in the know on crypto by frequently visiting Crypto News Today

In a meeting today, core developers set the tentative timeline for when they expect the Shanghai upgrade to be completed. Also called “Ethereum Improvement Proposal (EIP) 4895,” Shanghai is a planned upgrade that will open validator staking withdrawals, a feature presently missing on the network.

It is not currently possible for users to withdraw staked funds from the Ethereum blockchain. Shanghai would fix that and provide greater flexibility and convenience to those who staked ether on the network before The Merge, the last upgrade when Ethereum transitioned to proof-of-stake consensus.

There’s no guarantee that the proposed timeline can be met due to potential technical difficulties or other unforeseen issues.

Beyond Shanghai

“Withdrawals will be enabled with Shanghai currently planned in March on the mainnet, if everything goes as planned,” Pooja Ranjan, a project manager at Ethereum Cat Herders who was present at the meeting, told The Block.

Developers also discussed a second hard fork, planned for after Shanghai, sometime in the third quarter of 2023 that will introduce “proto-danksharding,” or EIP 4844, an upgrade which would further improve the network’s capacity to handle more transactions.

EIP 4844 will introduce a new kind of transaction format to Ethereum called “shard blob transactions” that will allow for off-chain data to be stored and accessed by Ethereum nodes temporarily to address scaling needs of blockchain apps. CRYPTOCASTER® - DECENTRALIZED FREEDOM!
Read More at THEBLOCK

© 2022-2023 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Support CryptoCaster with any amount of Bitcoin by copying and pasting our Unstoppable Domain; villagewest.crypto in your sending wallet or crypto coin exchange.

Your contribution support will help in our growth, coverage, and global presence. CryptoCaster is a decentralized publisher “Covering a Global Evolution Re-defining Mediums Of Exchange”. We will continue to upgrade and create impactful sections to our lineup.
Any amount, as often as you can contribute will be greatly appreciated.
Every contribution, however big or small, is so valuable for our future. Thank you for your consideration and support!
Member of Global Meta Media Consortium℠

Leave a Comment

Your email address will not be published.

You may also like