The long-awaited Shanghai upgrade, which will allow for staked ETH withdrawals, has an official launch date of April 12 according to Ethereum core developers.
A specific date has been announced for the eagerly anticipated Ethereum Shanghai update. Ethereum core developers officially announced April 12 as the date for the Shanghai mainnet upgrade during the All Core Developers Execution Layer (ACDE) conference on Thursday.
The Shapella (Shanghai and Capella) upgrade on the mainnet is planned to occur at epoch 6209536 on April 12 at 10:27:35 UTC, according to a tweet from Ethereum core developer Tim Beiko on March 16. Other developers also announced the arrival of staked Ethereum withdrawals, which were slightly postponed from the initially planned date of March.
Validators will be able to transfer Ethereum staked on the Beacon Chain to the execution layer thanks to the Shanghai update. Moreover, it will give the execution and consensus layers new features. Changes to the Engine API, Capella consensus layer, and Shanghai execution layer are all brought about by the Shapella upgrade.
The software releases for the upgrade will be announced by Ethereum clients soon, therefore nodes and validators should concentrate on updating their client software. The recent Shapella upgrade on the Goerli testnet caused complications since some validators hadn’t updated with the most recent client software updates, according to recent observations by Ethereum core developers.
Lido announced a delay for withdrawals of staked Ethereum.
Withdrawals of Lido-staked ETH (stETH), the largest Ethereum liquid staking platform, will likely be postponed until May. It was revealed that the time required to complete V2 audits had delayed the implementation of the Ethereum Shanghai Goerli upgrade.
Withdrawals of stETH from the mainnet are unlikely to occur until all audits are finished, according to Lido. Mid-May is the anticipated launch date for the mainnet withdrawals.
At a price of $1,664, Ethereum has only increased by 1% over the past 24 hours. $1,616 is the 24-hour low and $1,671 is the 24-hour high. The strong comeback in the overall crypto market on Tuesday coincided with the ETH price reaching a high of $1,779 per token.