Ethereum’s Shanghai Upgrade Is Complete
Ethereum’s Shanghai hard fork, also referred to as “Shapella,” has been finalized, enabling withdrawals for users who have “staked” their ether to secure and validate transactions on the blockchain.
The Shanghai upgrade was triggered at 22:27 UTC, and finalized at about 22:42 UTC.
Roughly half an hour after the Shanghai upgrade was activated, some 285 withdrawals in epoch 194,408 had been processed, for about 5,413 ETH ($10 million worth), according to beaconcha.in.
The price of ETH remained largely flat at the time the Shanghai hard fork was triggered, while about 4000 people tuned into a Shapella Mainnet Watch Party hosted by Ethereum Cat Herders.
At the livestream, Vitalik Buterin, the co-founder of the Ethereum blockchain, said that “we’re in a stage where the hardest and fastest parts of the Ethereum protocol’s transition are basically over. Very significant things still need to be done, but those very significant things can be safely done at a slower pace.”
(With inputs from Shikha Singh)
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