Ethereum Shanghai Pushed to Early April

The much anticipated Shanghai update to Ethereum’s blockchain has officially been pushed to early April according to the network’s core developers.

Initially, Ethereum developers had hoped to allow withdrawal of staked ether by late March 2023, but this timeline has now been pushed back.

During a streamed developers call last week, the team identified and flagged a few minor issues after running a successful Sepolia Shapella testnet upgrade in late February, 2023.

Despite the minor issues, it was determined that the necessary delay would benefit the overall stability and clarity for the eventual Shanghai upgrade.

Goerli testnet

With the Shanghai update pushed back, Ethereum’s developers have scheduled to run the final testnet, Goerli aimed at March 14th.

In preparation for the Goerli testnet, a series of smaller client-side software releases will be necessary. While investors and holders are keen for the release of Shanghai, the latest consensus among the developers preferred to see to the successful testing of Goerli before the critical launch of the mainnet fork.

Shanghai slated for early April

As of press, there is no firm date for the mainnet hard fork, but the team believes it will likely take place sometime within the first two weeks of April.

As a result, investors with staked ether will have to wait a bit longer to withdraw. However, this delay may bring greater market clarity to the impact on ether’s price.

Ethereum upgrades have typically been planned and then delayed, as stakeholders involved in the process are cautious about avoiding mistakes when making major changes to a nearly $200 billion network.