Ethereum: Final Testnet Upgrade Brings Shanghai Closer Than Ever


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Ethereum: Final Testnet Upgrade Brings Shanghai Closer Than Ever: The Ethereum Shanghai upgrade is now one step closer to being activated live on the mainnet blockchain sometime in April as the final testnet, Goerli is upgraded.

Final Testnet Upgrade Brings Shanghai Closer Than Ever

Final Testnet Upgrade Brings Shanghai Closer Than Ever

Ethereum: Final Testnet Upgrade Brings Shanghai Closer Than Ever: The final dress rehearsal for Ethereum’s forthcoming major upgrade, “Shapella,” has taken place on the Goerli testnet.

The upgrade was triggered at epoch 162304 at 10:26 a.m. UTC on March 14. Although the epoch did not finalize initially due to low validator participation rates, it did later finalize, as indicated by Arbitrum developer “Terence. eth.”

“15 epochs later, Goerli has finalized. 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 tweeted.

Three testnets were used, with Goerli being the final one to go through the scenario. Given that it has the most validators and most closely resembles the activity on the Ethereum blockchain, this test was the most anticipated of the three.

Tim Beiko, an Ethereum developer, celebrates the historic moment on Twitter. “Goerli forked,” he tweeted.

A mainnet launch date has not yet been decided upon, as reported earlier, although Beiko states that it will “probably” be decided upon during the March 16 devs meeting, “assuming things go well on Goerli.”

According to Beiko, the teams advised waiting before any potential mainnet fork for four weeks following the Goerli upgrade, implying that the mainnet hard fork could occur by mid-April.

Ethereum (ETH) Developers Announce Next Major Date for Shanghai Testnet Upgrade

Beiko notes that a mainnet date has not been explicitly agreed upon, but it will “probably” be set during the next developers’ meeting on March 16, “assuming things go well on Goerli.” He provides a possible time frame: around four weeks following the Goerli testnet upgrade. Beiko said that the teams recommended waiting four weeks for a potential mainnet fork after the Goerli testnet update. In this case, one week would be needed for developers to perfect the release, and then it would take more than two weeks to upgrade the nodes.

Final Testnet Upgrade Brings Shanghai Closer Than Ever

As reported earlier, a MetaMask bug was detected that did not allow the balance to reflect withdrawals. This appears to be working now, according to Beiko, and a caching issue may have been to blame.

Shanghai might bring slight selling pressure

CryptoQuant A recent analysis by cryptocurrency research company CryptoQuant predicts mild selling pressure for ETH from taking withdrawals. The research claims that 60% of all ETH staked are currently losing money when compared to the price at which the token was staked.

Check Also: What Are The 10 Latest Types Of Cryptocurrency?

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