The Ethereum network adopted the proof-of-stake mining model, successfully putting an end to the proof-of-work mining model. On September 15, 2022, the much-awaited switchover took place.
The Ethereum Shanghai edition was earlier reported to delve into three significant Ethereum issues. It modifies the EVM object format, allows Beacon Chain withdrawals, and lowers L2 fees. The Ethereum Shanghai upgrade was scheduled for early 2023. However, the expected launch has been set for March 2023.
According to the latest core developer, execution layer meeting call, the release date of the Ethereum Shanghai upgrade has been hinted at.
Ethereum Shanghai upgrade likely to be out by the end of February
The recent developers’ call also stressed that they will mainly focus on the ETH withdrawals. The withdrawal feature is currently missing in the Ethereum network, and the upgrade is focused on bringing it back.
Christine Kim, a Galaxy research associate, also mentioned on the call that the public testnet will likely be out by late February. The developers also discussed that all meetings will be live-streamed on YouTube moving forward.
The anticipated timeframe, however, is flexible and can change based on any problems the team may encounter, including additional potential difficulties. Nevertheless, if everything works out as planned by the developers, withdrawals will be enabled in March.