- Ethereum’s next network give a lift to will be continue to exist testnet next week.
- After the give a lift to, validators will be in a residing to withdraw for the important time.
- There are over $27 billion stacked funds on the Ethereum contract.
The Ethereum blockchain has formally confirmed the date of the following important network give a lift to after the transition to proof-of-stake. Based totally totally on an legitimate blog post printed on Tuesday, Sepolia Shapella (Shanghai/Capella) network give a lift to will be continue to exist the testnet on February 28.
In the blog, the give a lift to, which is acknowledged to be activated next Tuesday at 4 AM UTC, will allow validators to withdraw their Ethereum staked on the Beacon Chain to the execution layer. It also introduces fresh efficiency to the execution layer (Shanghai) and consensus layer (Capella).
The blog also informs that the validators will be in a residing to prevent running their nodes, exit the network, free up their 32 Ether, and any earned rewards after the Shapella update.
Furthermore, there are two phases to the withdrawal. The partial withdrawal phase, which takes one week on moderate, lets in balances over 32 ETH, or $52,500, earned rewards to be moved out, while the validator remains a ingredient of the beacon chain, as expected.
Based totally totally on recordsdata from Etherscan, the Ethereum Beacon Chain staking contract holds virtually about 17 million units of ETH tokens. The over $16.8 million staked ETH token is expounded to over $27.6 billion, over 13% of the coin’s market cap.
Notably, the Shapella update combines changes to the execution layer, consensus layer, and the Engine API. Furthermore, validators are told to be particularly mindful of the dangers of running a majority consumer on both the execution and consensus layer when picking which consumer to fling. Whereas a staker running a minority consumer will handiest lose realistic amounts, a majority consumer can incur a entire loss, per the warning article.
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