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Successful simulation of the Shanghai update

Ethereum Shanghai Update: Withdrawal of staked ETH has been successfully tested on the Sepolia network.

By Finst News
• 3 min read
Successful simulation of the Shanghai update

Ethereum Shanghai Update: Withdrawal of staked ETH has been successfully tested on the Sepolia network.

The Sepolia network was able to simulate withdrawals of staked Ether (ETH) without any issues. The Ethereum Blockchain is thus one step closer to the planned update to release staking rewards. Sepolia is the second of the three test networks that run such a simulation. Another test run on the Goerli network is still to come.

The Shanghai update marks Ethereum's full transition to a fully proof-of-stake network. Investors will then regain access to their staked ETH. To secure the network, investors can stake by depositing crypto into the network. In return, they earn rewards.

Vitalik Buterin weighs in

Shanghai is the first major update since the Ethereum Merge in September 2022. While the long-awaited update is successfully progressing through its test phases, Ethereum founder Vitalik Buterin weighed in in a blog post. The post includes several criticisms and suggestions to improve the usability of crypto wallets and user interfaces.

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