ETH Testnet Upgrade All Green for Shanghai Hard Fork

1. Sepolia testnet simulates upcoming Shanghai hard fork
2. Successful Shapella upgrade installed on Feb. 28
3. Validators can withdraw stETH from Beacon Chain back to execution layer

In preparation for next month’s upcoming hard fork, Ethereum’s Sepolia testnet has successfully undergone an upgrade replicating the changes expected from the Shanghai hard fork. 

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The testnet’s Shapella upgrade was successfully installed on February 28, successfully mixing the names of the upcoming Shanghai and Capella hard forks. One of the significant changes includes the ability for validators to withdraw their staked Ether (stETH) from the Beacon Chain back to the execution layer, among other new features. 

The execution layer client will refer to the fork as Shanghai, while the consensus layer client will recognize it as the Capella upgrade.

In other news, the Ethereum ecosystem is now the most beginner-friendly in the cryptocurrency industry as a whole. This is due to the fact that the Ethereum ecosystem has lowered its energy consumption in the five months after the launch of the Merger. Statistical evidence indicates that Ethereum’s energy consumption has decreased by 99.99% since the Merger.

This decrease in energy consumption has enabled the Ethereum network to process transactions at a faster rate, enabling users to conduct business quickly and conveniently. In addition, Ethereum’s fees have decreased substantially as a result of the merger, making it one of the most cost-effective options for anyone seeking to use cryptocurrencies.

Read Also:

• Ethereum Expected to Activate the Upgraded Mainnet in Mid-March
• Ethereum’s All-Core Developers Meeting #152: Writeup
• Cryptoquant: ETH Mass-Selling Event Is Coming
• How To Make a Profit From the Upcoming Ethereum Fork
• The Cardano Hard Fork Inches Even Closer