The long-awaited Shapella update on Ethereum is now live, paving the way for new features like Ether (ETH) deleveraging. Community members have celebrated the new update of the Ethereum ecosystem with various responses.
Shapella is a community term that mixes “Shanghai” and “Capella”, the updates that were produced simultaneously. The hard fork is a major milestone on the Ethereum roadmap, leaving many members of the community excited about the future of the network.
Many community members congratulated the developers of the network. Danny Ryan, a researcher at the Ethereum Foundation, he claimed that although proof-of-stake (PoS) has taken some time, the loop is finally complete.
At the Shapella watch party hosted by the Ethereum Foundation team, Ethereum co-founder Vitalik Buterin said that the network is now in a “really good place.”. He explained it this way:
“We are in a phase where the hardest and fastest parts of the Ethereum protocol transition are basically over. There are still very important things to do, but they can be done at a slower pace.”
For his part, the crypto singer Jonathan Mann celebrated the new update by performing another song at Shapella’s watch party.
Can we make this image a meme? pic.twitter.com/vC2pwKkLXd
— songadaymann.lens (@songadaymann) April 12, 2023
Can we make this image a meme?
While some celebrated the event, others looked to the future of the network. Anthony Sassano, member of the Ethereum community, remembered that the next major feature would be EIP-4844, which aims to improve the scalability of rollups on Ethereum.
For its part, blockchain analysis firm Glassnode thinks that although the Shapella update will unlock staked ETH, less than 1% are planning to sell. The analytics company claims that only 253 validators have signed up for the exit. Apart from this, there are also mechanisms in place to prevent a massive flood of ETH supply from pouring into the markets at the same time.
One of the expected effects of the Shapella upgrade is the addition of more institutional investors to Ethereum. Freddy Zwanzger, head of the Ethereum ecosystem at Blockdaemon, foresees that there may be more interest in ETH staking opportunities from large investors, as there is now a clear option to withdraw.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Keep reading:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.