The Ethereum Shanghai upgrade will now probably be implemented somewhere in the first two weeks of April, as opposed to the original estimate of late March. On March 2, the delay was disclosed at a gathering of ETH developers.
Core developers agreed during the conference that the hard fork would take place roughly a week after the Goerli testnet launch, which was scheduled for March 14. The Shanghai hard fork will have its last run-through on the Goerli testnet before being implemented on the mainnet.
Tim Beiko, an Ethereum core developer and project manager, stated that “for mainnet we usually want to give people at least two weeks after the announcement,” before going on to say that “if Goerli happens on the 14th, everything goes well, and on the 16th we agree to move forward with mainnet, I think the earliest that puts us is like the first week of April.”
They did not expressly agree on a mainnet date, but Beiko stated in a Twitter post on March 2 that they “probably” will set one during the following devs meeting on March 16, “provided things go well on Goerli.”
The Shanghai hard fork’s final opportunity for Ethereum users and staking services to guarantee a smooth transition when it launches on the mainnet is the Shanghai Capella (also known as Shapella) upgrade to Goerli.
Advantages Of Ethereum Shanghai Upgrade
Ethereum placed in the Beacon Chain will be able to be gradually withdrawn thanks to the eagerly anticipated Shanghai mainnet update.
Withdrawals of ETH will be dynamic and based on the number of validators that are currently leaving the network in order to preserve network stability and security. Validators must go through a two-stage procedure that entails a withdrawal period and an exit queue, so it will happen gradually over time.
17.1 million ETH, or little over 14% of the supply, are now staked on the Beacon Chain. It is valued at about $28 billion based on current asset prices.
Shanghai has additionally been seen as positive for companies that offer liquid staking. Since the debut of the Ethereum consensus layer in December 2020, staked ETH has been locked on the Beacon Chain.
In the months following Shanghai, there may be an increase in collateral due to the flexibility and greater yield chances that liquid staking platforms like Lido give on staked ETH.