With the upcoming Shanghai update, the Ethereum blockchain is to receive the functionality that allows stakers to withdraw their tokens. The shadow mainnet for this upgrade has been deployed successfully, developers working on it confirmed on January 23rd. This shadow fork will be used to test whether the updated blockchain is capable of allowing the withdrawal of ETH staked on the network. The upgrade is scheduled to go live in full in March of this year.
Before going live with the upgrade, developers need to ensure that it is free of any bugs or glitches that could affect its operation in the final deployment, and this is where this shadow fork will come in handy.
ether Developer known by the Twitter handle @vdWijden confirmed the development while revealing that the Shadow Fork had some technical issues.
Payout-Mainnet-Shadow-Fork-1 is completed :rocket::rocket::rocket:
It started with a few problems because the config wasn’t applied correctly to geth (we disallow overriding the mainnet config). The configuration is applied correctly and all nodes match. We’re going to launch some evil nodes.
— MariusVanDerWijden (@vdWijden) January 23, 2023
Over the past year, the Ethereum blockchain transitioned from its Proof-of-Work (PoW) mining model to the energy-efficient Proof-of-Stake (PoS) model. The name of this revamped network is merge.
In PosBlockchain validators use their personal money Ether Token to create new blocks and verify transactions. In return, stakers receive interest and other rewards on their staked tokens.
It is estimated that currently $22.38 billion worth of Ether tokens (approx.
Once the Shanghai upgrade goes live, Ethereum validators can choose to keep their tokens staked or withdraw them.
Ethereum developers are allegedly I would like to launch a public testnet for the Shanghai update in February.
In the coming months, the blockchain will continue to receive upgrades to address key challenges.
earlier this week, Vitalik Buterin, the Ethereum co-founder said that “stealth addresses” could be a possible solution that could protect all information stored on Ethereum, a public blockchain. These stealth addresses can anonymize the peer-to-peer transactions of digital assets.
