Ethereum core developer Tim Beiko recently announced that the Shapella upgrade is scheduled for February 28th. At epoch 56832 on the Sepolia network, the Shapella network update will go into effect.
Shanghai and Capella (Shapella) are the names of the upcoming Ethereum hard forks. Shanghai is the name of the fork on the execution layer client side, while Capella is the name of the upgrade on the consensus layer client side. This upgrade is expected to bring a number of improvements to the Ethereum network, including increased scalability and enhanced security.
Ethereum Improvement Proposals (EIPs) are making significant changes to the execution layer of the Ethereum network. One of the most notable changes is the introduction of Warm Coinbase and Beacon Chain Push Withdrawals. Warm Coinbase is a game-changer for builders, as it reduces the network fees associated with platform transactions.
This is achieved by keeping the Coinbase software “warm”, meaning that the first interaction with the software requires a lower gas fee than usual. Beacon Chain Push Withdrawals, on the other hand, allow validators to withdraw from the Beacon Chain to the Ethereum Virtual Machine via a new “system-level” operation type. These two EIPs are set to revolutionize the Ethereum network, making it more efficient and cost-effective for builders.
Major changes to the consensus layer of Ethereum are coming with the Sepolia upgrade, allowing validators to make full and partial withdrawals of their staked Ether (stETH) from the Beacon Chain to the execution layer. This upgrade will also introduce new features to both the execution and consensus layers, making it a key upgrade following the Merge.
Partial withdrawal allows validators to withdraw Ether rewards in excess of 32 Ether and keep validating, while full withdrawal allows them to take all 32 Ether and rewards and stop doing the work.
In order to take advantage of the Sepolia upgrade, stakers and non-stakers who operate nodes must upgrade their nodes to the most recent Ethereum client versions. The next step in the upgrade process, the Shanghai upgrade on the Ethereum Goerli test network, is expected to commence in March.
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