Ethereum Shapella upgrade scheduled for February 28, paving the way for ETH unstake

Ethereum core developer Tim Beiko announced that the Shapella upgrade (Shanghai/Capella) is scheduled for February 28. The Shapella network upgrade will be activated on the Sepolia network in epoch 56832.

Shanghai and Capella are the names of upcoming Ethereum hard forks. Shanghai is a fork of the implementation layer client, and Capella is an upgrade of the consensus layer client.

Some of the important Ethereum Improvement Proposal (EIP) changes on the Execution Layer include push and withdrawal Beacon chains and Coinbase WARM. Expanded withdrawals will make way for validator withdrawals from the beacon chain to the EVM via a new type of “system-level” operation. Coinbase WARM, on the other hand, could be a game-changer that could lower network fees for some mainnet participants known as builders.

Here Coinbase is the name of the software the builders use to receive new coins on the network. Every new transaction on the platform requires multiple interactions with the Coinbase software: the first interaction costs more money as the software needs to “warm up,” and then the fee decreases with each interaction. However, with the introduction of EIP-3651, the Coinbase software will work from the start, so the gas costs to access the software will be reduced.

Major changes in the consensus layer include full and partial withdrawal of validators and independent state and block history accumulators, replacing the original single history root.

A partial withdrawal means that the validator can get the ETH reward back, but still keep 32 Ether for further validation. If they want to withdraw all, validators can withdraw completely and get all 32 Ether plus rewards and stop working.

An upcoming upgrade will allow validators to withdraw their staked ETH from the beacon chain to the execution layer. In addition, this upgrade will bring about changes in the execution layer and consensus layer, and add new features, which is an important upgrade after Merge.

However, staker and non-staker operating nodes must upgrade their nodes to the latest Ethereum client version to take advantage of the Sepolia upgrade. After implementing the Sepolia upgrade, the next step will be to release the Shanghai upgrade on the Ethereum Goerli test network, which is expected to start in March.

At the time of writing, ETH price is currently trading at $1,644, down more than 2% on the day.

Source: TradingView

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As reported by Cointelegraph

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