Ethereum Shanghai Upgrade to Launch Testnet in Feb, Mainnet in March

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• Ethereum Shanghai upgrade’s public testnet is anticipated to go live in February
• Its mainnet deployment is scheduled for March
• Developers decided to abandon any Ethereum Improvement Proposals (EIPs) associated with EOF

Developers of Ethereum have announced that the public testnet for the Shanghai upgrade will be launched at the end of February, with the mainnet deployment scheduled for March. The upgrade will prioritize withdrawals of staked Ether, and the developers are removing any proposed code modifications that would otherwise delay the timeline.

This announcement was made during the inaugural All Core Developers Call (ACDC) for 2023. Christine Kim, a research associate at the financial services and investment management firm Galaxy Digital, participated in the call and reported the findings in a study for Galaxy. According to Kim, developers reiterated their commitment to launching the public Shanghai testnet in early February.

The Ethereum code execution environment known as the Ethereum Virtual Machine (EVM) Object Format is referred to as EOF. The developers decided to abandon any Ethereum Improvement Proposals (EIPs) associated with this format due to the prioritization of withdrawal of staked ETH in the upgrade.

The Shanghai upgrade is an important step for the Ethereum network, as it will bring about an array of improvements to the blockchain platform. This includes more efficient gas usage, lower transaction fees, and faster block times. Furthermore, the upgrade will introduce a new consensus mechanism known as “proof-of-stake”, which will replace the existing “proof-of-work” system.

The launch of the Shanghai upgrade’s public testnet is an exciting development and a major milestone for the Ethereum network. With the testnet expected to go live by the end of February, the mainnet deployment in March will be one to watch out for. For now, developers are hard at work ensuring that the upgrade is as smooth and successful as possible, and that all necessary tweaks are made to ensure its long-term success.