The developers at Ethereum (ETH) are preparing the Shanghai update. We have recently reported extensively on this. Among other things, the update will finally allow recordings of ‘staken’ ether. The developers initially disagreed on the exact time of this update, but now seem to have agreed.
Ethereum update in March 2023
In an article at the end of November, we discussed that the Ethereum team was not aligned on the schedule. Part of the developers wanted to launch certain parts of the update in March 2023 and the other parts only in the fall. The other part of the team wanted to roll out everything as a whole in the fall.
This caused the necessary tension among ethereum strikers. This ETH is fixed and cannot be moved at the moment. The exact moment when ethereum holders can access their tokens has been very vague. So now the developers have finally announced a date; it will be March 2023 anyway. This will reassure the Ethereum strikers.
Ethereum proto-thank hardening?
Then, in the fall of next year, the second part of the Shanghai update will be launched. The most notable part of this is called proto-thank hardening. This update will significantly speed up the Ethereum network and give it more capacity.
Sharding is a blockchain term best described as dividing up. The blockchain is, as it were, divided into several shards or divided into parts. Each part then operates independently of each other, which makes it possible to process many more transactions per second.
Currently, Ethereum processes several dozen transactions per second. Vitalik Buterin, founder of Ethereum, has indicated in the past that techniques such as sharding can potentially scale this capacity to tens of thousands of transactions per second.
All in all, good news from the Ethereum camp. In the coming months, the developers will continue to test the proposed updates. In four months’ time, the first Shanghai updates should be implemented.