Ethereum’s much-awaited Shanghai Update is just around the corner now. After the update goes live in mid-March, users will finally be able to unlock their staked ETH. However, with an update of such magnitude, Ethereum developers need to ensure there is zero room for error. Any glitches during the update could result in delays and massive losses. That’s why the Shanghai Update will be rolled out in stages through 3 testnets.
But what are these stages and where are we now with respect to the entire process? Tag along to find out.
The 3 testnets leading up to the Shanghai Update
Before the Shanghai Update can go live, Ethereum developers will look for potential glitches using 3 testnets: Zhejiang, Sepolia and Goerli. For the unacquainted, testnets are duplicate networks that run parallel to the main chain. These duplicate chains allow developers and users to test upgrades and applications in a low-stakes environment before going live. The first amongst the 3 testnets, Zhejiang, went live last month, on February 1. This was a public testnet and it allowed users to simulate the process of withdrawing staked ETH. Amongst many other things, this testnet served two main purposes.
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To begin with, it allowed Ethereum developers to monitor the simulated mass withdrawal of ETH. This would put them in a better position to unearth potential issues and tweak the systems for optimal performance when the actual update goes live. Secondly, it also provides staking platforms like Lido, Coinbase, etc. to ascertain how they would collect, display and use the withdrawal information. Therefore, through the Zhejiang Testnet, users could deposits ETH starting from Feb 1 and withdraw them a week later on February 7.
On February 28, Ethereum developers declared the success of the second testnet, Sepolia. This was much like Zhejiang, only it was a private trial. This means that only Ethereum core developers were allowed to run validators on this testnet. According to reports, Sepolia would also have the least number of participating validators, making it the least important testnet amount the 3. "Sepolia testnet has successfully upgraded," said one of Ethereum’s lead developers, terence.eth. "Next stop: Goerli," he added.
Goerli is the final testnet before the Shanghai update. Like Zhejiang, it is a public testnet and will provide developers one last opportunity to iron out any wrinkles before the much-awaited Shanghai Update. It is also the biggest testnet and the closest thing to the real mainchain. The gap between Zhejiang and Sepolia was 3 weeks, and if developers go for the same interval before Goerli, the final testnet could be carried out around March 21. However, this would delay the previous estimates for a mid-March rollout of the actual Shanghai Update.
Conclusion
The Shanghai Update is one of the most important calendar dates for the Ethereum Network and the cryptoverse as a whole. A successful upgrade could send ETH rallying and provide a much-needed boost to the crypto market. Therefore, all these testnets will go a long way in ensuring a smooth update and allow users to withdraw their staked ETH without any hassles.
(Edited by : Anushka Sharma)
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