Ethereum Shapella Upgrade Ready to Go Live on Testnet
- Ethereum’s next network upgrade will be live on testnet next week.
- After the upgrade, validators will be able to withdraw for the first time.
- There are over $27 billion stacked funds on the Ethereum contract.
The Ethereum blockchain has officially confirmed the date of the next major network upgrade after the transition to proof-of-stake. According to an official blog post published on Tuesday, Sepolia Shapella (Shanghai/Capella) network upgrade will be live on the testnet on February 28.
In the blog, the upgrade, which is said to be activated next Tuesday at 4 AM UTC, will enable validators to withdraw their Ethereum staked on the Beacon Chain to the execution layer. It also introduces new functionality to the execution layer (Shanghai) and consensus layer (Capella).
The blog also informs that the validators will be able to stop running their nodes, exit the network, unlock their 32 Ether, and any earned rewards after the Shapella update.
Furthermore, there are two phases to the withdrawal. The partial withdrawal phase, which takes one week on average, allows balances over 32 ETH, or $52,50…
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