Ethereum’s Shanghai Hard Fork could occur in March 2023. ETH Dev says Staking Withdrawals is the ‘Highest Priority.


A recent Ethereum Core development meeting revealed that the next Ethereum hardfork, called Shanghai on December 8, could be implemented by March 2023. The Shanghai hard fork is expected to be able manage the network’s staked Ethereum withdrawals.
Ethereum Devs Target Hard Fork Target “Around March-ish”
The 151st developer meeting of Ethereum Core took place on December 8, 2022. A variety of topics were discussed, including Ethereum’s next hardfork. The Merge was Ethereum’s last major hardfork. This significant change to the rules of blockchain led to the network moving from proof-of work (PoW), to proof-of stake (PoS). A hard fork’s change is backwards-incompatible, which means network users are required to update their node software.
Developers explained at the meeting that the next hard fork (called Shanghai) may be scheduled for March 2023. Shanghai may also address the network’s staked Ethereum withdrawals, as the community has placed importance on the subject. The Beacon Chain contract currently has 15,597 175 ether locked into it. This contract is worth approximately $19.88 billion if you use today’s ETH exchange rates.
Since long ago, it has been known that the ETH is locked in the Beacon Chain contract. It will take a hard fork to gain access to the funds. Tim Beiko, an Ethereum Core developer, acknowledged that withdrawals should be made quickly for most people and developers. Beiko stated, “This is clearly the highest priority of everyone.” Beiko said, “People seem to want a target around March or so.”

Developers have been discussing ways to increase Ethereum’s throughput capacity. Ethereum’s software programmers introduced the Ethereum Improvement Proposal 4844. EIP-4844 focuses on concepts such as proto-danksharding or shard-blob transactions. These concepts use technology that is meant to implement a “new type of transaction type to Ethereum” that accepts ‘blobs of data to be persisted at the beacon node for short periods of time.
What did you think of the recent Ethereum Core developers meeting and discussions regarding the Shanghai hard fork happening in March 2023. Please comment below to let us know your thoughts on this topic.


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