Tuesday, March 21, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News Altcoin News

How Ethereum Shanghai Upgrade Will Impact ETH Holders?

news by news
January 27, 2023
in Altcoin News, blockchain, cryptocurrency, Ethereum, News
0
How Ethereum Shanghai Upgrade Will Impact ETH Holders?
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Did Circle Get A $3 Billion Credit Line From Coinbase To Get USDC Back To $1?

Top Crypto Projects With Upcoming Upgrades You Should Be Aware Of In 2023

For ETH stakers, the Ethereum Shanghai upgrade is a well-awaited change as they will be able to remove their staked funds as validators. Aside from its effects on staking, it’s also ETH to new heights in the cryptocurrency market.

Ethereum, an open-source blockchain with smart contract functionality used to run on Proof-of-work, which made the mining process expensive and energy intensive. After the merge, Ethereum’s mechanism shifted from Proof-of-Work to Proof-of-Stake, a method for validating entries into a distributed database and keeping the database secure. Now, what changes Ethereum Shanghai Upgrade brings for ETH holders?

The Ethereum Shanghai Upgrade Will Have a Huge Impact on ETH

In March 2023, the Shanghai/Capella fork will go live. Jack Niewold, Founder of Crypto Pragmatist, an email newsletter on the narratives and assets shaping crypto, recently tweeted,

“about 14% of total ETH supply is staked, and it can be unstaked after the Shanghai fork. This makes some people bearish”

On Monday, Ethereum’s core developers deployed the first mainnet shadow fork designed to test the readiness of ETH staking withdrawal capability. This brought ETH holders one step closer to accessing the $26 billion worth of Ethereum.

Read More: Ethereum Shadow fork Goes Live: Here’s 7 Things You Need to Know

Withdrawals and ETH Developers Feud

Where the Ethereum merge introduced the ability for users to deposit ETH with the network, The Shanghai upgrade will allow ETH holders to stake their coins since the Beacon Chain, Ethereum’s Proof of Stake consensus layer. However, some of Ethereum’s devs believe the team is rushing the Shanghai upgrade. Micah Zoltu, an Ethereum dev, stated that the current Shanghai code does not allow ETH withdrawals to be compatible, and a rushed launch will create more problems for both developers and holders. They believe that the unstaking of ETH is acceding to public demands and not so much about the long-term health of Ethereum.

Also Read: 5 Ethereum Stocks To Indirectly Reap The Benefits Of Ether’s Surge

The post How Ethereum Shanghai Upgrade Will Impact ETH Holders? appeared first on CoinGape.

Related Posts

Did Circle Get A $3 Billion Credit Line From Coinbase To Get USDC Back To $1?
24/7 Cryptocurrency News

Did Circle Get A $3 Billion Credit Line From Coinbase To Get USDC Back To $1?

March 20, 2023
Top Crypto Projects With Upcoming Upgrades You Should Be Aware Of In 2023
24/7 Cryptocurrency News

Top Crypto Projects With Upcoming Upgrades You Should Be Aware Of In 2023

March 20, 2023
Just-In: Polygon Launches zkEVM-powered Web3 Gaming Network; MATIC Price Surge Ahead?
24/7 Cryptocurrency News

Just-In: Polygon Launches zkEVM-powered Web3 Gaming Network; MATIC Price Surge Ahead?

March 20, 2023
Breaking: Ripple Files New Notice Supporting Fair Notice Defense Against SEC
Altcoin

Breaking: Ripple Files New Notice Supporting Fair Notice Defense Against SEC

March 20, 2023
Breaking: Elon Musk Considers FTX Among World’s Biggest Economic Failures
Altcoin News

Breaking: Elon Musk Considers FTX Among World’s Biggest Economic Failures

March 20, 2023
Solana Price: Major Underlying Trend To Trigger Rally?
Altcoin News

Solana Price: Major Underlying Trend To Trigger Rally?

March 20, 2023
Next Post
Are Whales Dumping XRP? Here’s What Data Suggests

Are Whales Dumping XRP? Here’s What Data Suggests

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

Is Polygon Co-Founder Trading Solana’s Meme Coin BONK?

Is Polygon Co-Founder Trading Solana’s Meme Coin BONK?

January 7, 2023
Top 5 Metaverse Predictions For 2023

Top 5 Metaverse Predictions For 2023

December 27, 2022
Here’s How Much The New FTX CEO John J. Ray III Made In Just 2 Months

Here’s How Much The New FTX CEO John J. Ray III Made In Just 2 Months

February 7, 2023
Crypto News Live Updates Today 24 Feb: Recent research by JPMorgan predicts increased regulation on crypto by US SEC!

Crypto News Live Updates Today 24 Feb: Recent research by JPMorgan predicts increased regulation on crypto by US SEC!

February 24, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In