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Ethereum's Shanghai Upgrade To Enable Withdrawals Set for April - Slashdot

 2 years ago
source link: https://developers.slashdot.org/story/23/03/16/1733210/ethereums-shanghai-upgrade-to-enable-withdrawals-set-for-april
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Ethereum's Shanghai Upgrade To Enable Withdrawals Set for April

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Ethereum's Shanghai Upgrade To Enable Withdrawals Set for April (bloomberg.com) 14

Posted by msmash

on Thursday March 16, 2023 @01:23PM from the shape-of-things-to-come dept.
Ethereum's next major software upgrade, which could make crypto's biggest commercial highway more attractive to investors and developers alike, will take place around April 12. From a report: Called Shanghai, it will let people who pledged their Ether tokens to order transactions on the Ethereum blockchain to withdraw them. Currently, some 17.5 million of such so-called staked Ether, worth about $29 billion at current prices, can't be accessed on the network, although the coins do earn their owners a yield. Ethereum software developers have been working on Shanghai for months, and have finally been able to set the date after deploying a final software test earlier this week. Developers confirmed the target date during a call on Thursday. Once Shanghai launches, that's expected to kick off a wave of withdrawals, though they will be limited to ensure the network's continued security. Waiting in line to withdraw could take weeks or months. However, many investors stake through crypto platforms such as Lido, which already give them some flexibility with their coins.

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