Ethereum Testnet Successfully Upgrade for Shanghai Hard Fork
- Sepolia testnet successfully upgraded to Shanghai mainnet.
- The Goerli testnet is expected to start in March.
The world’s largest smart contract network, Ethereum’s second testnet, “Sepolia” successfully completed and pushed the Ethereum blockchain one step closer to its much-awaited Shanghai Upgrade.
Today Sepolia testnet has successfully replicated staked ether (ETH) withdrawals on the Ethereum blockchain by upgrading to Shapella. The upgrade was initiated at epoch 56832 at 4:04 UTC and was completed at 4:17 UTC.
Following that, the testnet underwent the “Shapella” update, which combines the names of the anticipated Shanghai and Capella hard forks. That is anticipated to take place on the network’s mainnet at the beginning of March.
The Shanghai Upgrade assists Ethereum’s complete conversion to a proof-of-stake network that enables validators to receive rewards for adding or approving blocks to the blockchain. Block validators are required to stake 32 ETH to validate on the Ethereum blockchain. Further, the next action is the Goerli testnet which is envisioned to start in March before the Shanghai fork goes live on the mainnet.
Ethereum Price Status
At the time of writing, the largest altcoin, Ethereum (ETH) traded at $1,628 with a 24-hour trading volume of $7.9 billion and has a market cap of $196 billion. Further, the second biggest crypto holds a market dominance of 17.5%. And ETH soared by over 8% in the last 14 days.
But still, Ethereum’s price declined by around 4.2% in a week and 66.63% from its all-time high of $4,878. That is recorded on November 2021, as per CoinGecko data.
