Ethereum Successfully Tests Shanghai Upgrade on Goerli Testnet
The final test for the Shanghai hard fork on the Goerli testnet has been successfully completed, paving the way for the staking withdrawal capability to be rolled out on Ethereum's mainnet by mid-April.
Ethereum Successfully Tests Shanghai Upgrade on Goerli Testnet. Image: Crypto.com
In the early hours of March 15, Ethereum developers announced the successful deployment of the Shanghai hard fork on the Goerli testnet, demonstrating the effective withdrawal of staked ETH. This sets the stage for Shanghai to potentially be implemented on the Ethereum mainnet by mid-April.
15 epochs later, Goerli has finalized.
— terence (@terencechain) March 15, 2023
There was nothing wrong with the Client software. We just had to get the offline operators to upgrade. It was a good stress test.
On to the next one. Mainnet! https://t.co/s573n5pC9f
However, the participation rate of validators on Goerli was only 29%, causing the upgrade verification process to take longer than anticipated. Developer Ben Edgington noted that the lower participation rate was due to validators not having their nodes prepared in time for the fork.
As reported by Coin68, the Shanghai upgrade, also known as Shapella, is the next major hard fork for the Ethereum network following The Merge in September 2022. Shanghai will introduce a significant adjustment to the world's second-largest cryptocurrency network by unlocking over 17.5 million ETH currently locked in staking contracts.
Shanghai had previously been successfully tested on private testnets and Sepolia. Earlier in March, Ethereum’s development team projected that the hard fork unlocking ETH staking would go live on the Ethereum mainnet by mid-April, though no specific date has been announced yet.
On the evening of March 14, ETH prices surged to their highest level since The Merge, thanks to a strong recovery in the cryptocurrency market following a series of negative news from the previous week.
