Ethereum’s Shanghai/Capella upgrade — also known by the portmanteau Shapella — may not be the technical marvel of last year’s “Merge” or introduce turbocharged speeds to the network.
Volumes of over 100,000 transactions per second will have to wait for future “danksharding” upgrades, according to the Ethereum Foundation.
But the hard fork remains an important step on Ethereum’s roadmap to the future, i.e., further shoring up the network’s new validation mechanism while (potentially) removing barriers for institutional investors.
Currently scheduled for 10:27 pm UTC on April 12, the upgrade will allow stakers to unlock their Ether (ETH) rewards — or even exit staking entirely — for the first time since September’s Merge.
It's happening Shapella is scheduled on mainnet for epoch 194048, scheduled for 22:27:35 UTC on Apr. 12, 2023 Client releases compatible with the upgrade are listed in the announcement below https://t.co/I0hSv9lnjz
Pre-fork publicity hasn’t matched that surrounding last autumn’s change of consensus mechanisms from proof-of-work to a proof-of-stake (PoS). “This time, we won’t have a war room,” Freddy Zwanzger, Ethereum ecosystem lead at Blockdaemon, told Cointelegraph. Still, “there’s always risks” when one reshuffles the deck like this.
Ethereum’s stakers and validators will shortly be able to withdraw $32 billion of Ether from the Beacon Chain, which accounts for about 15% of the ETH’s circulating supply, according to Coinbase’s April 5 newsletter. Some worry that the upgrade, also known as the Shanghai hard fork, may lower the overall number of validators and put selling pressure on the network, among other concerns.
“Every hard fork brings some upgrade risk,” Paul Brody, EY’s global blockchain leader,
Read more on cointelegraph.com