Ethereum has scheduled that the network will receive the expected Shangai update in February 2023, first as a public testnet.
Shanghai’s primary focus will be placed on ETH withdrawals, as was shown during a recent call between core developers. The latest upgrade will seek to enable ETH withdrawals with validator staking since Ethereum doesn’t feature this capability at this moment.
The Ethereum network expects the launch on its mainnet in March 2023, as shown in initial plans. Following this event, Ethereum users will gain access to coins that were previously staked on the blockchain. These tokens turned inaccessible for a time, a direct effect of The Merge. In September 2022, Ethereum performed The Merge to transition to PoS (proof of stake) consensus.
As a way to make sure that the March deadline is met, the team of developers aims to roll out a public test for the Shanghai update in February 2023, as reported by a Galaxy research associate who took part in the call mentioned earlier.
The developer meeting resulted in the decision to not add a suggested improvement in the Shanghai upgrade due to probable delays. The improvement in question is EOF (ETH Virtual Machine Object Format) which is supposedly able to refine the ecosystem’s EVM programming. The sole focus of Shanghai will be on withdrawals instead of other changes that could alter the code.