The proposed Ethereum network update in Shanghai will concentrate only on ETH withdrawals.
The planned Shanghai update of the Ethereum network would concentrate only on ether (ETH) withdrawals, according to a recent core devs meeting. Shanghai is an update that will allow validator staking withdrawals, a capability now lacking from the network.
With a projected launch of the updated mainnet sometime in March, users will be able to access currencies that have been staked on the network. As part of The Merge, these currencies were momentarily unavailable in September, when Ethereum moved to proof-of-stake consensus.
To guarantee that engineers can reach the March deadline, they plan to provide a public test network for the Shanghai upgrade by the end of February, according to Galaxy research associate Christine Kim, who participated in the call.
During the call, developers decided not to incorporate Ethereum Virtual Machine Object Format (EOF), a suggested enhancement to the blockchain’s EVM programming environment, because of worry that it might delay Shanghai. They decided to prioritise the withdrawals feature above other possible code improvements.
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