Tim Beiko, Ethereum Core Developer Announced he Shapella (Shanghai/Capella) upgrade is scheduled for February 28. The Shapella network update will go live on the Sepolia network in epoch 56832.
Shanghai and Capella are the names of the upcoming Ethereum hard fork. Shanghai is the name of the fork on the execution client side and Capella is the name of the update on the client side of the consensus layer.
Some of the key changes to Ethereum Improvement Proposals (EIPs) in the execution layer include push withdrawals from Warm Coinbase and the Beacon chain. Automatic withdrawals will give way to withdrawals from the beacon chain validator to the EVM through a new type of "system level" operation. On the other hand, WARM Coinbase could be a game changer that could reduce network fees for some of the key network participants called builders.
Coinbase here is the name of the software builders use to receive new tokens on the network. Each new transaction on the platform needs to interact with the Coinbase software several times. The first interaction costs more as the software needs to "warm up", and then the fees decrease as interactions increase. However, with the introduction of EIP-3651, the Coinbase software will remain live to begin with, so a lower gas fee will be required to access it.
Related: Ethereum On-Chain Data Suggests ETH Selling Pressure Might Not Be a Post-Shanghai Update Event
Major changes to the consensus layer include full and partial retirements for state and block independent historical accumulators and validators, replacing the original singular historical roots.
Partial withdrawal means that validators can withdraw Ether (ETH) rewards greater than 32 Ether and continues to validate. In case they want a full withdrawal, the validators can go out completely and take the 32 Ether and the rewards and stop doing the work.
The upcoming update would allow validators to withdraw their staked Ether (ETH) from the Beacon Chain to the execution layer. Also, the update would bring changes to the execution layer and consensus layer adding new features making it a key update after the fusion.
However, participants and non-participants operating nodes must update their nodes to the latest Ethereum client versions to take advantage of the Sepolia update. After the implementation of the Sepolia update, the next step would be the release of the Shanghai update on the Ethereum Goerli testnet, which is expected to go live in March.
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