Ethereum developers have approved April 12 as the date for the Shapella upgrade.
The upgrade would enable users to unstake their ETH tokens.
Shapella Upgrade To Take Place On April 12
Ethereum core developers have approved April 12 as the date for the Shapella network upgrade. The upgrade would be activated on the Ethereum mainnet, a move that would complete the Ethereum network’s transition to a proof of stake mechanism.
In a blog post by the Ethereum Foundation, the developers revealed that the Shapella upgrade would happen at network epoch 194,04. An epoch in Ethereum is a bundle of 32 blocks on the network, and this epoch is expected to take place at 6:27 pm EDT on April 12.
This announcement comes a week after the developers approved the date during the All Core Developers Execution Layer #157 call on March 16. Shapella is a combination of Shanghai and Capella. These are two network upgrades that will happen simultaneously.
The mainnet hard fork will feature five Ethereum Improvement Proposals, including EIP-4985, which will enable staked Ether withdrawals on the Beacon Chain. The upgrade will complete Ethereum’s transition from proof-of-work to a proof-of-stake (PoS) consensus.
According to the developers, the Shanghai upgrade is for the consensus layer, and Capella is for the execution layer.
Thanks to this upgrade, validators on the Ethereum network would receive rewards payments automatically at periodic intervals in withdrawal addresses. Furthermore, stakers would have the opportunity to exit positions entirely and have access to their full funds.