Ethereum Launches Test Network to Begin Work on the Shanghai Upgrade

Ethereum (ETH) developers have officialy launched the testnet for Shanghai, the first major upgrade for Ethereum since its network transitioned to a Proof of Stake (PoS) consensus mechanism.

Ethereum Launches Shanghai Testnet

On Friday, October 14th, Ethereum launched the new “Shandong” test network (testnet), enabling developers to begin testing their protocols on Shanghai, the next major upgrade for Ethereum.

The pre-Shanghai testnet, Shandong, will run in close coordination with EF DevOps, and plays a significant role in activating numerous selected Shanghai-considered EIPs. Shanghai is projected to be implemented at some point in 2023. 

EIP Testing on Shanghai

The Ethereum team highlighted that, with the update, the first five Ethereum Improvement Proposals (EIPs) on the testnet would go live, and several EIPs are already being considered for inclusion. 

The selected EIPs could potentially address some of the network’s efficiency and scalability issues. However, one of the most anticipated proposals is the EIP 4895.

Ethereum developers have begun testing the “unstaking” of their staked ether (ETH) on the Beacon Chain, and the withdrawal of these stakes, along with any rewards they may have earned in the meantime.

On the Flipside

  • Ethereum’s transition to PoS has raised heavy concerns over the network’s decentralized status due to its recent loss of censorship resistance.

Why You Should Care

The launch of Shandong will give developers enough time to test their protocols in order to ensure a smooth transition, as with the initial PoS transition that took place in September.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia