Ethereum Deploys Mainnet Fork Ahead of Shanghai Upgrade

Ethereum developers have successfully deployed the first mainnet shadow fork in preparation for the Shanghai upgrade. This upgrade is due in March and will allow validators to unstake their ETH

The Ethereum network took another step forward with the Shanghai upgrade. The development team successfully deployed the first mainnet shadow fork in preparation for launch. This allows Ethereum validators to start testing withdrawals and prepare for the upgrade to mainnet. The Shanghai update itself is due out in March and is highly anticipated. Since the move to proof-of-stake, Ethereum stackers have locked their ETH on the network. Validators have long been calling for ETH to be de-staked.

The mainnet shadow fork conducted on January 23rd will help test the feature before its official launch. According to Ethereum Core developer Marius Van Der Wijden, only a few minor issues have been fixed.

ETH is currently staked at over $26.5 billion. There is a cap on the amount that can be withdrawn, which will prevent the outflow of staked ETH. The developers planned to introduce more improvements with the Shanghai upgrade, but these were shelved to prioritize weight loss.

TVL of Staked Ethereum
TVL of Staked ETH. Source: CryptoSlate

Meanwhile, Ethereum stakeholders are preparing for the launch of the Shanghai upgrade. The network recently surpassed 500,000 validators, which is quite a number. This is especially true considering that the minimum bet is 32 ETH.

Devs Warn Against Hasty Upgrades By Ethereum

While most are looking forward to the Shanghai launch, a handful of developers remain opposed. They believe that unblocking ETH should serve the needs of the public, not the long-term health of the blockchain platform.

They point out that such changes can lead to technical debt, making long-term development more difficult. Your main point has to do with the encoding method that needs to be switched.