{"id":15319,"date":"2022-12-09T21:20:55","date_gmt":"2022-12-09T21:20:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ethereums-shanghai-hard-fork-could-happen-in-march-2023-eth-dev-says-staking-withdrawals-is-the-highest-priority-technology-bitcoin-news\/"},"modified":"2022-12-09T21:20:55","modified_gmt":"2022-12-09T21:20:55","slug":"ethereums-shanghai-hard-fork-could-happen-in-march-2023-eth-dev-says-staking-withdrawals-is-the-highest-priority-technology-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ethereums-shanghai-hard-fork-could-happen-in-march-2023-eth-dev-says-staking-withdrawals-is-the-highest-priority-technology-bitcoin-news\/","title":{"rendered":"Ethereum’s Shanghai Hard Fork Could Happen in March 2023, ETH Dev Says Staking Withdrawals Is the ‘Highest Priority’ \u2013 Technology Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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According to a recent Ethereum Core development meeting on Dec. 8, developers disclosed that the next Ethereum hard fork, called Shanghai, could be implemented by March 2023. It\u2019s been suggested that the Shanghai hard fork will be able to manage the network\u2019s staked ethereum withdrawals. <\/strong><\/p>\n

Ethereum Devs Aim for Hard Fork Target \u2018Around March-ish\u2019<\/h2>\n

On Dec. 8, 2022, Ethereum Core developers <\/span>convened<\/span><\/a> for the 151st developers meeting, and a number of subjects were discussed including Ethereum\u2019s next hard fork. Ethereum\u2019s last major hard fork was The Merge, a significant change to the rules of the blockchain network which made the network change from proof-of-work (PoW) to proof-of-stake (PoS). A hard fork\u2019s change is backwards-incompatible, which means network users are required to update their node software. <\/span><\/p>\n

At the meeting, developers explained that the next hard fork, called Shanghai, may get scheduled for sometime around March 2023. Shanghai also may address the network\u2019s staked ethereum withdrawals as the community has established importance on the matter. At the time of writing, on Dec. 9, 2022, the <\/span>Beacon Chain contract<\/span><\/a> has 15,597,175 ether locked into the contract that\u2019s worth roughly $19.88 billion using ETH<\/a> exchange rates today.<\/span><\/p>\n

It has been known for a long time now that the ETH<\/a> is locked into the Beacon Chain contract and it will require a hard fork to access the funds and possibly more than one. Ethereum Core developer Tim Beiko acknowledged that most people and devs wanted withdrawals to take place quickly. \u201cThis is clearly the highest priority for everybody,\u201d Beiko remarked. \u201cPeople seem to generally want a target around March-ish,\u201d Beiko added. <\/span><\/p>\n

Developers have also been discussing how to improve Ethereum\u2019s throughput capacity and Ethereum\u2019s software programmers have introduced the Ethereum Improvement Proposal (EIP) 4844. EIP-4844 deals with concepts like <\/span>proto-danksharding<\/span><\/a> and <\/span>shard blob transactions<\/span><\/a>. Both of these concepts leverage technology that\u2019s meant to implement a \u201cnew kind of transaction type to Ethereum which accepts \u2018blobs\u2019 of data to be persisted in the beacon node for a short period of time.\u201d<\/span><\/p>\n

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Beacon Chain Contract<\/a>, Developers Meeting<\/a>, EIP-4844<\/a>, ETH Dev meeting<\/a>, ETH Devs<\/a>, ETH Staked Withdrawals<\/a>, Ethereum core developers<\/a>, Ethereum Developers<\/a>, Ethereum Fork<\/a>, Ethereum Hard Fork<\/a>, Locked ETH<\/a>, merge<\/a>, proto-danksharding<\/a>, Shanghai<\/a>, shard blob transactions<\/a>, Staking Withdrawals<\/a>, Throughput Capacity<\/a>, Withdrawals<\/a><\/div>\n<\/div>\n

What do you think about the latest Ethereum Core developers meeting and discussions about the Shanghai hard fork taking place in March 2023? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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