Ethereum Developers Push Back Shanghai Upgrade To April

Ethereum Developers Push Back Shanghai Upgrade To April. 

Despite setting late March as their original target date, Ethereum developers have recently announced that they have pushed back the expected Shanghai upgrade to likely occur sometime in April instead.

Postponed To April

At an Ethereum developer meeting on March 2nd, Ethereum core developer and project coordinator Tim Beiko explains that the developer team decided that they wanted to give the public around 2 weeks to prepare for the mainnet upgrade following the Goerli testnet slated for March 14.

“For mainnet, we usually want to give people at least two weeks after the announcement. So imagine Goerli happens on the 14th, everything goes well, on the 16th, we agree to move forward with mainnet — I think the earliest that puts us is like the first week of April.” Beiko said.

Other developers in the meeting, however, have suggested that it would more likely happen in the second week of April instead.

Related: Why Vitalik Buterin Says Ethereum Should Improve Its User Experience! 

Withdrawing Staked ETH

The Shanghai mainnet upgrade has been a long-awaited fork by many in the community now due to its prominent improvements, including the newly added feature of users finally being able to withdraw their staked ETH.

Back in January, JP Morgan analysts have even suggested that the Shanghai upgrade’s staked ETH withdrawal feature alone could “usher in a new era” for firms like Coinbase, Kraken, and Binance which have ETH staking features. This feature allowed investors to pool together their ETH to stake them and earn passive rewards.

JP Morgan reportedly predicted that Coinbase could earn somewhere between $220 million and $540 million in revenue per year from staking alone.

Related: Solana Down 14% This Week Following Latest Network Outage

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