The team of developers from Ethereum have succeeded to launch the first feature of Shaghai, Ethereum’s expected upgrade for its network.
As stated by a one of the team’s developers in a recent update, the much expected upgrade received its first shadow fork at approximately 5:40 AM Eastern Time on the 23rd of January 2023, Monday. The fork is a copy of ETH’s mainnet and represents a feature to provide room for devs to test code prior to deploying it for the public’s access.
According to Marius Van Der Wijden, a developer for Ethereum Foundation, nodes using Geth clients experienced at least a couple of small technical glitches. However, Marius showchased that devs succeeded in fixing the glitches and all nodes are now in agreement. The software developer stated that the next move represents so-called evil nodes tested on consensus and execution layers. Evil nodes spam invalid blocks in their attempt to make other nodes join a bad chain, Marius declared.
Shanghai is Ethereum’s upgrade for enabling withdrawals of ETH that was previously staked and locked as a result of the Merge happening in September 2022. Beacon Chain was released by Ethereum in December 2020 and since then investors deposited millions of Ether tokens.
Glassnode released data from the chain revealing that over 16 million ETH is at stake, which amounts to more than 13 per cent of the total quantity of ETH. The data also revealed that over 11.4 million ETH was stored via services that include Coinbase, Kraken, and Lido.
