Ethereum Shanghai Official Launch Date Announced

The much-anticipated launch of Ethereum Shanghai is finally just around the corner. During an All Developer’s call streamed earlier this March, Ethereum developers have announced the target date to be April 12th, 2023.

Ethereum Shanghai, also known as Shapella, is set to deploy significant EIPs (Ethereum Improvement Protocols) on the network, improving the overall performance, security, and speed of the Ethereum blockchain.

The Shanghai Shapella has been eagerly awaited by the crypto community, as well as ETH investors and holders.

The upgrade includes multiple improvements, but one of the most significant is the ability for Ethereum stakers to withdraw both their staked ETH and earned rewards.

This feature has been highly desired among Ethereum users and the wider cryptocurrency community, and is outlined in the EIP-4895 proposal.

New to Ethereum? Learn the basics.

As the world’s second most popular cryptocurrency, Ethereum has already had a significant impact on the blockchain industry. However, Ethereum Shanghai is set to take things to the next level as part of its grand roadmap.

The Shanghai Shapella follows the events of the Merge in September, where Ethereum’s consensus mechanism switched to PoS (Proof of Stake), and the network started using validators instead of miners to verify transactions.

What is PoS? Read our guide to learn about Proof of Stake.

These validators were required to stake 32 ether (ETH) to verify and add blocks to the blockchain. The staked ETH would remain locked until Shanghai Shapella goes live.

Hence the much anticipated update to Ethereum’s network which not only impacts the network performance, but also potentially the price of ETH as well.

Stay tuned for more updates on the Ethereum Shanghai and all things crypto!