Ethereum Takes Step Closer To Shanghai With Deployment On Goerli Testnet

Ethereum’s Next Big Upgrade Slated For 2023 — Here’s why It’s Super Bullish For ETH

Ethereum is another step closer to its next major upgrade, dubbed Shanghai.

The final dress rehearsal for Ethereum’s upcoming Shanghai-Capella upgrade, simply Shapella, has occurred on the Goerli test network environment (testnet). The test on Goerli was highly anticipated because its the largest public Ethereum testnet and the last opportunity for staking providers to ensure that staked ETH is withdrawable before Shanghai arrives on the mainnet blockchain.

Ethereum Sees Successful Deployment Of Shanghai On Goerli

The Shapella upgrade was activated at epoch 162304 at 10:26 a.m. UTC on March 14. This specific test run simulated one of the key Ethereum Improvement Proposals (EIPs), withdrawing staked Ethereum from the blockchain.

After testing the upgrade on Goerli, developers plan to launch it on the Ethereum mainnet sometime next month, marking the next major milestone after the network’s shift from Proof-of-Work (PoW) to a PoS security model in September 2022. This will, however, be a slight delay from the original timeline that Ethereum developers set for March.

It’s worth mentioning that the simulation on the Goerli testnet didn’t go smoothly. Ethereum core developer Tim Beiko posited that although deposits were being processed, they encountered some issues because a handful of testnet validators failed to upgrade their client software before the Shapella hard fork was executed on Goerli.

Beiko highlighted that testnet validators had less incentive “to initiate the upgrade as Goerli ETH is “worthless”. Nonetheless, he expects them to make the necessary adjustments ahead of the mainnet launch.

Arbitrum developer “terence.eth” similarly explained that it took 15 epochs for the Goerli testnet to go through Shapella because of low validator participation rates. There was a 29% validator participation rate at the time that the epoch was triggered, which is below the two-thirds threshold.

“There was nothing wrong with the client software. We just had to get the offline operators to upgrade. It was a good stress test. On to the next one. Mainnet,” terence.eth summarized.

Prior to Goerli, the Ethereum developers executed numerous phases of public testing for Shapella on the Sepolia and Zhejiang public testnets since February. After the Goerli test, all that is left is for developers to set the exact date for the fork on the mainnet.

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on linkedin
LinkedIn

Follow Us

Most Popular

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.
On Key

Related Posts

Finixio Crypto: From Online Marketing to Cryptocurrency Scams?

Cryptocurrency scams have been a constant threat to the industry since its inception. These scams not only drain funds from unsuspecting investors but also contribute to the negative perception of cryptocurrency as a whole. One such company that has been experimenting with online users’ psychology is Finixio crypto. In this article, we will delve into

Binance CFTC Lawsuit Has Enough To Affect Major Crypto Downtrend?

Crypto News: The Commodities Futures Trading Commission (CFTC) lawsuit against crypto exchange Binance changed the narrative in the market, but it remains to be seen if the move still has enough legs to affect a major downtrend in cryptocurrency prices. Although the news of the lawsuit led to significant drop in Bitcoin price, it continues

Miners Dumping Bitcoin To Crypto Exchanges, BTC Price Reversal Below $25K Likely

Bitcoin price fell from $28K to $26.5K after the US CFTC sued crypto exchange Binance and its CEO Changpeng “CZ” Zhao for violating U.S. crypto trading and derivatives regulations. The crypto market considers this move as a continued regulatory crackdown against crypto. With the crypto market already facing liquidity issues, action against Binance will further

XRP Lawyer: After CFTC, SEC Could Sue Binance Over Securities Offerings

Crypto News: The Commodity Futures Trading Commission’s (CFTC) lawsuit on crypto exchange Binance made waves in the market. But the CFTC’s views on crypto classification is becoming a much bigger debate as US regulators continue enforcement actions on crypto businesses. Meanwhile, the crypto market is perceiving this as a fight between the two regulatory agencies,