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- The team at Ethereum has announced in a recent blogpost that the highly anticipated Shapella network upgrade will take place on the 12th of April.
- Ethereum stakers are advised to upgrade their node to the preferred version of their Ethereum client, as highlighted on the post.
Ethereum community members are in for a ride come April. Taking to its official blogspot, the Ethereum team made a major announcement concerning the highly anticipated Shapella upgrade.
The big announcement was made in a recent post titled “Mainnet Shapella Announcement”. The long-awaited Shapella network upgrade will take place on the 12th of April at 22:27:35 UTC. The upgrade will be activated on the Ethereum network at epoch 194048. The blog post details the entirety of the update and enlists all the FAQs for stakers.
“Withdrawals are coming” the post teases. Once the Shapella hard fork is activated, Ethereum network validators will gain access to their Ethereum (ETH). Stakers can proceed with ETH withdrawal from the Beacon Chain afterward.
The Ethereum Improvement Proposal EIP-4895 will enable withdrawal by pushing the Ether staked, from the Beacon Chain to the Ethereum Virtual Machine (EVM), also known as the execution layer.
The Shapella upgrade follows the successful transaction to the Goerli testnet. A consensus among the team on the launch date was reached during the recently held AllCoreDevs Execution Layer meeting. The upgrade will also introduce new functionality to the execution and consensus layer. The blog reads.
After a smooth Goerli transition, client teams have scheduled the Shapella upgrade for mainnet activation. Consensus was quickly reached on an April 12th date during the 157th AllCoreDevs Execution Layer meeting.
This upgrade follows The Merge and enables validators to withdraw their stake from the Beacon Chain back to the execution layer. It also introduces new functionality to both the execution and consensus layer.
Ethereum Bug Bounty has been doubled for Shapella vulnerabilities
Per the upgrade specification, the Shapella upgrade combines the changes to the execution layer (Shanghai), consensus layer (Capella), and the Engine Application Programming Interface (API).
Stakers and node operators are advised to read through the withdrawal FAQ on the site. It is worth noting that Ethereum’s big bounty rewards have been increased for vulnerabilities that might come with Shapella. The blogpost noted:
No spam, no lies, only insights. You can unsubscribe at any time.
From now until April 5th, the Ethereum Bug Bounty have been doubled for Shapella vulnerabilities. You can now sign up to receive emails for these upgrade announcements.”
Non-staking node operators are to update their node to the version of Ethereum client listed in the “Execution Layer Mainnet Releases” section. Stakers advised updating their node to the version of their Ethereum client listed on the blogpost. This will make it possible for Ethereum stakers to be compatible with the Mainnet upgrade.
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