Ethereum’s Shanghai Upgrade Live along with the official start of a new era

Ethereum’s Shanghai update has been live. Allows to withdraw the ether stake for the first time. And officially started a new era for blockchain.

Shanghai upgrade Started working at 22:27 UTC. and is expected to complete in two blockchain epochs, which will take approximately 14 minutes. This change is also referred to as “Shapella” because it is two concurrent upgrades occurring in the execution layer (“Shanghai”) of the blockchain, and consensus layer (“Capella”)

This is the most significant upgrade since The Merge on September 15th and brings Ethereum one step closer to the system. Proof-of-stake that works perfectly

Hard forking allows partial and full withdrawal of staking ETH. Theoretically, 18.1 million ETH could be unlocked when Shapella is forked, currently valued at over $34.8 billion. however There are several mechanisms in place to prevent ETH oversupply from exposure.of Ethereum Foundation

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