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The most-awaited Ethereum Shanghai upgrade now has an official date. During the All Core Developers Execution Layer (ACDE) meeting on Thursday, Ethereum core developers set April 12 as the official date for the Shanghai mainnet upgrade.
Ethereum core developer Tim Beiko in a tweet on March 16 revealed that Shapella (Shanghai and Capella) upgrade on the mainnet is scheduled for happen at epoch 6209536 on April 12 at 10:27:35 PM UTC. Other developers also shared the news as staked Ethereum withdrawals are coming as the date was slightly delayed from the initial target of March.
The Shanghai upgrade will enable validators to withdraw their Ethereum staked on the Beacon Chain to the execution layer. It will also introduce new functions to both the execution and consensus layers. The Shapella upgrade introduces changes to the execution layer (Shanghai), consensus layer (Capella), and the Engine API.
Ethereum clients will announce the software releases for the upgrade soon and would require nodes and validators to focus on updating their client software. Recently, Ethereum core developers also noted that several validators didn’t upgrade with the latest client software releases causing issues after the Shapella upgrade on the Goerli testnet
Lido Announced Delay in Staked Ethereum Withdrawals
Lido Finance, the largest Ethereum liquid staking platform, announced that Lido staked ETH (stETH) withdrawals will likely be delayed to May. It revealed that the time spent on undertaking V2 audits has caused delays in readiness for the Ethereum Shanghai Goerli upgrade.
Lido revealed that stETH withdrawals are unlikely to happen on the mainnet until all audits are complete. The mainnet withdrawals are estimated to go live in mid-May.
Ethereum price is up just 1% in the last 24 hours, with the price currently trading at $1,664. The 24-hour low and high are $1,616 and $1,671, respectively. On Tuesday, the ETH price hit a high of $1,779 amid the massive recovery in the broader crypto market.
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