Ethereum Shapella upgrade gets new date, making way for un-staking ETH

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Ethereum core developer Tim Beiko announced The Shapella (Shanghai/Capella) upgrade is scheduled for February 28th. The Shapella network upgrade will be activated on the Sepolia network at epoch 56832.

Shanghai and Capella are the names of the upcoming Ethereum hard forks. Shanghai is the name of the execution client-side fork and Capella is the name of the consensus layer client-side upgrade.

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Significant changes in the execution layer of the Ethereum Improvement Proposal (EIP) include withdrawals on warm coinbase and beacon chain pushes. Push retraction gives way to validator retraction from the beacon chain to the EVM via a new “system-level” operation type. On the other hand, WARM Coinbase could be a game changer that can reduce network fees for key network participants called builders.

Coinbase here is the name of the software that builders use to receive new tokens on the network. Every new transaction on the platform requires multiple round trips to the Coinbase software. The first interaction is more expensive as the software needs to “warm up”. After that, the fee will decrease as the number of transactions increases. However, with the introduction of EIP-3651, the Coinbase software stays warm from the start, resulting in lower gas fees to access.

Related: Ethereum On-Chain Data Suggests Ethereum Selling Pressure May Be Non-Event After Shanghai Upgrade

Major changes to the consensus layer include full and partial retraction of validators and independent state, replacing the original singular historical roots and blocking historical accumulators.

A partial withdrawal means that a validator can withdraw more than 32 Ether (ETH) rewards and continue validating. If a full withdrawal is desired, the validator can be fully terminated, take all 32 of her Ether and rewards, and stop working.

A future upgrade will allow validators to withdraw staked Ether (ETH) from the beacon chain to the execution layer. Additionally, this upgrade brings changes that add new features to the execution and consensus layers, making it a significant upgrade following The Merge.

However, stakers and non-stakers operating nodes will need to upgrade their nodes to the latest Ethereum client version in order to take advantage of Sepolia’s upgrades. After rolling out the Sepolia upgrade, the next step will be the release of the Shanghai upgrade on the Ethereum Goerli test network, scheduled to start in March.