Core developers of Ethereum have launched the first mainnet shadow fork to determine the preparedness of the ETH staking withdrawal feature.
This marks a step forward in enabling users to access more than $26 billion worth of staked ETH in March as planned.
Announcing the same, Marius Van Der Wijden, an Ethereum Foundation software developer, claimed that despite a few issues, the deployment of the shadow fork was overall successful.
A shadow fork is designed to test network upgrades with existing state data from the original chain and also check for any bugs.
These “rehearsals” act as an important tool for web3 developers because it allows them to test their assumptions about the network’s upcoming upgrades against the most current conditions of the mainnet’s production environment.
With these, core Ethereum developers, node providers, and independent stakers can be ready for upcoming network-wide changes so the Ethereum application ecosystem is not interrupted.
The Shanghai will be the first significant update since the historic Ethereum merge in September, which transformed the network’s operating system to a proof-of-stake one.
Users would deposit ETH with the network after the merge to become validators and aid in on-chain transaction authentication. In exchange, these users have been allowed to earn prizes in the form of freshly created ETH.
Upgrade to Ethereum Shanghai involved this
The amount of Ethereum invested into the staking contract has steadily increased since the Beacon Chain started live in November 2020. As of Jan. 7, deposits totaling 15.9 million ETH, worth $20 billion, or 13% of the total supply, TronWeekly reported.
Shanghai’s main highlights include:
Bringing down the gas charge for layers 2 solutions could make using Eth after Shanghai faster and more affordable.
Efficiency improvements in data access and storage, like the elimination of past block hash information from contracts. Removal of the contract lock on staked tokens will enable unstaking and the withdrawal of staked ETH.
On Dec. 8. the 151st Ethereum Core Developers Meeting was conducted and discussions were held on setting the timeframe of March 2023 for the Shanghai hard fork.
Additionally, the core programmers planned to roll out the Ethereum Improvement Protocol [EIP] 4844 updates, which would bring proto-danksharding to the network, in May or June 2023.