Sepolia developer set upgrade time

With the Ethereum Shanghai upgrade expected in March, the long-awaited post-merger upgrade, developers are moving closer to the goal of allowing withdrawals of Ethereum staked on the Beacon chain.

Ethereum Core Developer Tim Beiko on February 22nd was announced that the Sepolia Shapella upgrade is scheduled for February 28th at 4 AM. UTC.

According to an Ethereum Foundation blog, the Shapella (Shanghai/Capella) network upgrade will be activated on the Sepolia testnet at block height 56832, which is expected at 04:04:48 UTC on February 28.

The upgrade will allow validators to withdraw Ethereum staked on the Beacon Chain at the execution level. It will also introduce new functionality at both the execution and consent levels. With the Shanghai upgrade, full Ethereum staking will be available.

The Shapella upgrade introduces changes to the execution layer (Shanghai), the consensus layer (Capella), and the Engine API. Ethereum users or ETH holders do not need to upgrade anything. However, stakers and non-staked node operators are required to upgrade nodes to Ethereum client versions for the Sepolia upgrade.

Ethereum core developers earlier identified bugs related to the Shapella public testnet. Major Ethereum Go Ethereum (Geth) client nodes have experienced synchronization difficulties with the Zhejiang test network. Other customers also reported the same problem. However, the developers believed that the issue will not affect the Sepolia update scheduled for February 28.

Previously, the developers stated that after the Sepolia testnet upgrade, the plan is to release the Shanghai upgrade to the Ethereum Goerli testnet. It is most likely to happen in early March.

Ethereum prices fall ahead of upgrade

The price of Ethereum has fallen over 2% in the last 24 hours, with the ETH price currently trading at $1,636. The 24-hour low and high are $1,632 and $1,709, respectively.

Bitcoin and Ethereum prices are under pressure ahead of the release of the US FOMC proceedings. Traders are expecting hawkish comments from the Fed due to the recent aggressive rhetoric expressed by some Fed officials.

Crypto influencer Lark Davis recently warned that withdrawals would cause a major selloff in the crypto market and further disrupt ETH’s bullish narrative.

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Varinder is a technical writer and editor, tech enthusiast and analytical thinker. Fascinated by Disruptive Technologies, he has shared his knowledge on Blockchain, Cryptocurrencies, Artificial Intelligence and Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a significant period and currently covers all the latest updates and developments in the cryptocurrency industry.

The content presented may include the personal opinion of the author and is subject to terms of purchase. Do your market research before investing in cryptocurrencies. The author or publication bears no responsibility for your personal financial loss.

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