Last Updated on January 25, 2023 by Bitfinsider
On Monday, Ethereum’s core developers reported the successful deployment of the first mainnet shadow fork intended to test the availability of ETH staking withdrawal functionality, which is planned to be available in March.
Mainnet shadow forks are full system upgrade dress rehearsals that allow engineers to test for design defects and adjust any leftover bugs. Monday’s test foreshadowed Ethereum’s highly anticipated Shanghai update, which would bring staked ETH withdrawals to the Ethereum ecosystem.
Shanghai will be the first significant upgrade since Ethereum’s historic merging in September, when the network switched to a proof-of-stake method. The merger also enabled users to deposit ETH with the network in order to become validators and aid in the authentication of on-chain transactions. As a result, these users have accumulated prizes in the form of newly created ETH.
Since December 2020, users have bet about $26.5 billion in ETH to obtain such payouts. However, once Shanghai is implemented, users will be able to withdraw both newly-minted ETH and old ETH deposits.
The first ETH withdrawal mainnet shadow fork launched successfully, according to Ethereum core engineer Marius Van Der Wijden, on Twitter on Monday, despite a few small glitches that have since been resolved.
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