The long-awaited upgrade of the Ethereum blockchain, “Shanghai,” has been implemented. With staked Ethereum (ETH) now available for withdrawal, a new era of the Ethereum blockchain has begun.
Shanghai took place at 22:27 UTC on the 12th and was expected to finalize in two epochs, about 14 minutes. The upgrade was also called “Shapella” because it happens simultaneously in the execution layer “Shanghai” and the consensus layer “Capella”.
As of 7:50 on the 13th Japan time, when checking beaconcha.in, it seems that the withdrawal has already been executed.
Shanghai (Shapera) is positioned as a historic milestone completing the multi-year transition from the Ethereum community to a Proof-of-Stake (PoS) network.
Analysts have been debating for months whether Shanghai will trigger a rise or fall in prices. If there is an opinion that the market sentiment of Ethereum will increase, there is also an opinion that many stakers will withdraw and sell Ethereum all at once.
Around 8:00 Japan time on the 13th, Ethereum rose 0.93% in 24 hours, near $1,912.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Original: Ethereum’s Shanghai Upgrade Activates, Starting New Era of Staking Withdrawals
The post Shanghai execution, withdrawal of staking ETH begins ─ Ethereum enters a new era | coindesk JAPAN | Coindesk Japan appeared first on Our Bitcoin News.