{"id":926,"date":"2023-04-04T13:20:15","date_gmt":"2023-04-04T13:20:15","guid":{"rendered":"http:\/\/mycrochettips.com\/?p=926"},"modified":"2026-04-23T13:05:20","modified_gmt":"2026-04-23T13:05:20","slug":"the-ethereum-upgrade-everything-you-need-to-know-about-shanghai-capella","status":"publish","type":"post","link":"http:\/\/mycrochettips.com\/index.php\/2023\/04\/04\/the-ethereum-upgrade-everything-you-need-to-know-about-shanghai-capella\/","title":{"rendered":"The Ethereum Upgrade: Everything You Need to Know About Shanghai-Capella"},"content":{"rendered":"<figure><img alt=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"http:\/\/mycrochettips.com\/wp-content\/uploads\/2023\/04\/1l56VdSlO1uF6nOpqa0yOpw.jpeg\"><\/figure>\n<p>This month, Ethereum will undergo the \u201cShanghai-Capella\u201d upgrade, the largest network upgrade since the \u201c<a href=\"https:\/\/medium.com\/blockchain\/the-ethereum-merge-what-you-need-to-know-3dff4ec0b597\">Ethereum Merge<\/a>\u201d in\u00a02022.<\/p>\n<p>\u201cShanghai-Capella\u201d will enable the withdrawal of staked ETH from the Ethereum blockchain, completing its transition from a proof of work to a proof of stake\u00a0network.<\/p>\n<p>The upgrade promises to usher in a new era of scalability, sustainability and mainstream adoption for Ethereum, but what does it mean for everyday users of Ethereum? Find out\u00a0below:<\/p>\n<h4><strong>When did Ethereum start its transition from a proof of work to proof of stake blockchain?<\/strong><\/h4>\n<ul>\n<li>In September 2022, the \u201c<a href=\"https:\/\/medium.com\/blockchain\/the-ethereum-merge-what-you-need-to-know-3dff4ec0b597\">Ethereum Merge<\/a>\u201d successfully upgraded the Ethereum network\u2019s mainnet from an energy-intensive proof-of-work consensus mechanism to the more energy-efficient proof-of-stake. Proof-of-stake lets users stake cryptocurrency to validate transactions, and in turn these users are rewarded for that participation with cryptocurrency.<\/li>\n<li>The merge, however, did not offer the ability to let individual stakers withdraw deposited Ethereum (ETH) or the rewards generated by those deposits.<\/li>\n<li>This is where the \u201cShanghai-Capella\u201d upgrade comes into play, as \u201cShanghai-Capella\u201d will finally enable the withdrawal of staked\u00a0ETH.<\/li>\n<\/ul>\n<h4><strong>Are Shanghai and Capella two different upgrades?<\/strong><\/h4>\n<ul>\n<li>Technically, yes.<\/li>\n<li>The \u201cShanghai\u201d upgrade is on the execution side of Ethereum, whereas Capella is the upgrade on the consensus side\u200a\u2014\u200ataking place straight afterwards.<\/li>\n<\/ul>\n<h4><strong>I haven\u2019t staked Ethereum but I do trade Ethereum, does this mean for\u00a0me?<\/strong><\/h4>\n<ul>\n<li>Unless you have engaged with Ethereum staking, the upgrade will not change the way everyday users interact with Ethereum.<\/li>\n<\/ul>\n<h4><strong>I have staked Ethereum, how will this impact my Staking\u00a0account?<\/strong><\/h4>\n<ul>\n<li>You can continue adding to your Blockchain.com Staking Earn Account, but for the first time you will be able to withdraw\u00a0assets.<\/li>\n<li>We expect withdrawals from your Blockchain.com Staking Earn Account to be available a few weeks after the Ethereum upgrades are complete as the time taken to process withdrawals is set by the Ethereum protocol (not Blockchain.com).<\/li>\n<li>Remember, you remain liable for any taxes in relation to your Staking or other crypto products.<\/li>\n<\/ul>\n<p>While the upgrade is a huge advance forward for those who stake and the Ethereum network at large, the upgrade will have little impact upon how everyday users interact with Ethereum or the economics of the network\u00a0itself.<\/p>\n<p>You can track the Ethereum #ShanghaiCapellaUpgrade on the Blockchain.com Explorer<\/p>\n<p><a href=\"https:\/\/www.blockchain.com\/explorer\/assets\/eth\/shanghai\">Blockchain Explorer &#8211; Ethereum Shanghai Upgrade | Blockchain.com<\/a><\/p>\n<p><img loading=\"lazy\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" width=\"1\" height=\"1\" alt=\"\" class=\"lazyload\" data-src=\"https:\/\/medium.com\/_\/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=1de5b812d6d5\"><\/p>\n<hr \/>\n<p><a href=\"https:\/\/medium.com\/blockchain\/the-ethereum-upgrade-everything-you-need-to-know-about-shanghai-capella-1de5b812d6d5\">The Ethereum Upgrade: Everything You Need to Know About Shanghai-Capella<\/a> was originally published in <a href=\"https:\/\/medium.com\/blockchain\">@blockchain<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This month, Ethereum will undergo the \u201cShanghai-Capella\u201d upgrade, the largest network upgrade since the \u201cEthereum Merge\u201d in\u00a02022. \u201cShanghai-Capella\u201d will enable the withdrawal of staked ETH from the Ethereum blockchain, completing its transition from a proof of work to a proof of stake\u00a0network. The upgrade promises to usher in a new&#8230;<\/p>\n<p><a class=\"more-link\" href=\"http:\/\/mycrochettips.com\/index.php\/2023\/04\/04\/the-ethereum-upgrade-everything-you-need-to-know-about-shanghai-capella\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/posts\/926"}],"collection":[{"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/comments?post=926"}],"version-history":[{"count":2,"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/posts\/926\/revisions"}],"predecessor-version":[{"id":929,"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/posts\/926\/revisions\/929"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/media\/928"}],"wp:attachment":[{"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/media?parent=926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/categories?post=926"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/mycrochettips.com\/index.php\/wp-json\/wp\/v2\/tags?post=926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}