Ethereum’s latest network upgrade, known as the Shanghai hard fork, has successfully activated, enhancing the network’s staking mechanisms and efficiency.
One of the key features of the upgrade is the ability for validators to withdraw their staked ETH, a long-awaited functionality that was not available after Ethereum transitioned to Proof of Stake (PoS) in the earlier “Merge” update.
This has led to increased participation in staking, with the total amount of ETH staked rising rapidly post-upgrade.
Additionally, the Shanghai upgrade improves transaction speed and lowers gas fees, further solidifying Ethereum’s position as the leading platform for decentralized applications (dApps) and decentralized finance (DeFi) projects.
