Ethereum’s Shanghai Hard Fork Could Happen in March 2023, ETH Dev Says Staking Withdrawals Is the ‘Highest Priority’ – Technology Bitcoin News

According to a recent Ethereum Core developer meeting on December 8, the developers revealed that the next Ethereum hard fork, called Shanghai, could be implemented in March 2023. ​that the Shanghai hard fork will be able to manage the network’s staking ethereum withdrawals.

Ethereum Developers Targeting Hard Fork ‘Around March’

On December 8, 2022, Ethereum Core developers summon for the 151st developer meeting and several topics were discussed including Ethereum’s next hard fork. Ethereum’s last major hard fork was The Merge, a significant change to the rules of the blockchain network that caused the network to change from proof of work (PoW) to proof of stake (PoS). The hard fork change is not backwards compatible, meaning that network users are required to update their node software.

At the meeting, the developers explained that the next hard fork, called Shanghai, could be scheduled around March 2023. Shanghai could also solve the network’s ethereum deposit withdrawal issue. because the community has identified the importance of this issue. At the time of writing, on December 9, 2022, Beacon Chain Contract there is 15,597,175 ether locked in a contract worth about 19.88 billion dollars using ETH exchange rate today.

It has long been known that ETH locked in the Beacon Chain contract and it will require a hard fork to access the funds and possibly more than one. Ethereum Core developer Tim Beiko admits that most people and developers want quick withdrawals. “This is clearly the highest priority for everyone,” commented Beiko. “People often seem to want to have a goal around March,” added Beiko.

Developers also discussed how to improve Ethereum’s throughput, and Ethereum’s software programmers introduced Ethereum Improvement Proposal (EIP) 4844. EIP-4844 covers concepts like proto-danksharding and shard blob transaction. Both concepts leverage technology to implement “a new type of transaction for Ethereum that accepts data ‘blobs’ persisted in the signaling node for a short period of time.”

Cards in this story

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What do you think of the latest Ethereum Core developers meeting and discussion about the Shanghai hard fork taking place in March 2023? Let us know your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at News and a fintech journalist living in Florida. Redman has been an active member of the crypto community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written over 6,000 articles for News about the groundbreaking protocols emerging today.

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