What is Shapella upgrade and why is it a game-changer for Ethereum $ETH: Guide Ethereum
is set to go live on the Ethereum network at epoch 194,048, or on approximately April 12, 2023. For the first time ever, since the launch of the Ethereum deposit contract in March 2020, stakers will be able to withdraw their deposits.Shapella hard fork is the most anticipated network upgrade for Ethereum in 2023 and one of the most crucial events in the crypto segment in recent months. The second largest blockchain is on the eve of its most radical tokenomic change in three years.
Shapella's influence on the ETH price might be controversial; the possibility of unlocking funds derisks Ethereum staking, but it might also trigger selling pressure on ETH; As such, the Ethereum community is anticipating the activation of Shapella as it is a watershed milestone in Ethereum's progress toward full-fledged proof-of-stake .Proof of stake is a type of network consensus on decentralized systems, where network participants guarantee their contribution by staking the native cryptocurrency of this network. In proof-of-work systems, the computational power of mining equipment is an analogue of staking in proof-of-stake systems.
Proof of stake is the basis for a number of consensus times, including proof of authority , delegated proof of stake , liquid proof of stake and so on. Ethereum and Cardano are the largest proof-of-stake blockchains in 2023.Initially, Ethereum launched as a proof-of-work network that operated similarly to Bitcoin . However, the transition toward proof of stake as the more technically advanced, attack-resistant and eco-friendly network was included in its roadmap.
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