Ether Moves One Step Closer to Shanghai Update

Before the Shanghai update, which is planned to take place on the Ethereum network in March, the Shadow Fork has been successfully launched. Ethereum developers will test codes on the Blockchain network with the Shadow Fork function. Thus, it will be determined beforehand whether there will be a problem with the Shanghai update.

After fixing some minor technical glitches encountered after the start of the test run, it was seen that the validators on the network were working in harmony. However, the developers plan to do more testing to see if the system continues to run smoothly.

Ethereum investors have been able to use the Ethereum staking service on the network since December 2020. Since then, $26.5 billion worth of ETH has been locked on the network. With the Shanghai update, which is expected to take place in March, ETH staked on the Ethereum network will be unlocked. With the upgrade focused on ETH withdrawals, there will also be some updates to make the commission fees on the Ethereum network more stable. The public testnet will be launched next month following the Shadow Fork, and this phase will include crypto platforms that are staking ETH.