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Ethereum Shanghai update will launch in march

The last Ethereum All Core Devs meeting of the year took place. The main issue was the next hard fork named Shanghai.

Until now, it was unclear which Ethereum Improvement Proposals (EIPs) would be included in the upgrade.

In September 2022, Ethereum switched its consensus mechanism to a proof-of-stake with the Merge. Investors had already been able to stake ETH on the Ethereum blockchain since November 2020, with the release of the ETH deposit contract.

However, there is one problem. Participants have not previously been able to withdraw their staked ETH unless they used a liquid staking method. With the Shanghai hard fork, this is changing.

Most notably, there was controversy at the last meeting over whether proto-danksharding (EIP-4844) would be included to improve the scalability of layer 2 rollups.

However, as Tim Beiko from the Ethereum Foundation reports, consensus has now been reached.

EIP-4844 is not scheduled until the fall of 2023 with a separate hard fork, meaning the Shanghai upgrade will not be delayed and can remain on the tentative March 2023 schedule.

Ethereum Staking Will Enable Withdrawals

In September 2022, Ethereum switched its consensus mechanism to a proof-of-stake with the Merge. Investors had already been able to stake ETH on the Ethereum blockchain since November 2020, with the release of the ETH deposit contract.

However, there is one problem. Participants have not previously been able to withdraw their staked ETH unless they used a liquid staking method. With the Shanghai hard fork, this is changing.

As Beiko stated, the Ethereum core devs have decided to prioritize enabling stake withdrawals over implementing the so-called “Surge” upgrade with EIP-4884. The proposal will enable the withdrawal of staked ETH for the first time.

Source

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