On 28 March 2023, Ethereum core developers announced in a blog post that the highly-anticipated Shapella network upgrade will take place on 12 April 2023 at 22:27:35 UTC. But what exactly is this upgrade? And why should you – an ETH investor or someone who has previously staked their ETH – care about it?
In this article, we'll cover all the basics that you need to know about the Ethereum Shapella upgrade, its implications for both the future of the Ethereum network and for ETH investors like yourself.
Ethereum staking is the process of locking up Ether, the native cryptocurrency of the Ethereum blockchain, in order to receive rewards. It allows users to earn passive income without needing to actively risk their capital by trading or other means. This process is greatly facilitated by smart contracts on Ethereum’s network which enable secure and decentralized interactions between decentralized apps (dapps) and users without the need for an intermediary - allowing for users to maintain full control over their funds at all times.
When the Ethereum blockchain upgrade known as The Merge took place on 15 September 2022, the unstaking of ETH was made temporarily unavailable.
Moreover, it combines changes to the execution layer (Shanghai), consensus layer (Capella) and the Engine API - hence, the term "Shapella."
In short, no. The team at Ethereum simply advises ETH investors to check if there are additional steps required by the exchange, wallet provider or platform that they’re using.
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