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Ethereum: Shanghai Upgrade Delayed, But Developers Eye Greater Market Clarity

Ethereum: Shanghai Upgrade Delayed, But Developers Eye Greater Market Clarity

According to recent reports, the upcoming major upgrade of Ethereum, which would enable the withdrawal of staked ETH, may face some delays.

During the All Core Devs meeting on Thursday, participants reported a few minor issues that were identified after the successful upgrade of the Sepolia test network earlier in the week. However, these issues are not anticipated to have any negative effects on future Shanghai upgrades.

Developers were initially aiming to roll out the Shanghai Capella upgrade by the end of March. Still, the latest consensus estimate from Ethereum’s client developer teams suggests that the upgrade will first be deployed to the network’s Goerli testnet on March 14 at epoch 162304 (expected at 18:25 ET).

While no firm date has been set for the mainnet hard fork, it is expected to take place roughly a month after the testnet upgrade. As a result, investors with staked ether may have to wait a bit longer to withdraw their funds.

However, this delay could positively impact the market by providing greater clarity on the potential impact of the upgrade on ether’s price.

“For mainnet we usually want to give people at least two weeks after the announcement,” said Tim Beiko, the project coordinator. “So imagine Goerli happens on the 14th, everything goes well, on the 16th we agree to move forward with mainnet — I think the earliest that puts us is like the first week of April, basically.”

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Ethereum developers are cautiously ensuring the upgrade is successful, and the Goerli testnet will be thoroughly tested before the mainnet fork is deployed.

The typical schedule for deployment is expected to be followed, with at least two weeks’ notice given before the mainnet upgrade takes place.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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