Shanghai Upgrade Will Transform Ethereum Forever !
Find out why this long-awaited upgrade could be a game-changer for the world's second-largest cryptocurrency and why you should keep an eye out for it. 👀
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Find out why this long-awaited upgrade could be a game-changer for the world's second-largest cryptocurrency and why you should keep an eye out for it. 👀
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⬩The Ethereum network is scalable, programmable, secure, and decentralized.
⬩It is the blockchain of choice for developers and ventures creating technology to change industries and daily life.
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⬩It is the blockchain of choice for developers and ventures creating technology to change industries and daily life.
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⬩Ethereum started off with PoW but began its journey toward PoS with the launch of the Beacon Chain in Dec 2020.
⬩The Ethereum merge went through many testnet checks before eventually being completed—a development that made the Ethereum network a PoS one.
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⬩The Ethereum merge went through many testnet checks before eventually being completed—a development that made the Ethereum network a PoS one.
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⬩Staking gives holders a way of putting assets to work and earning passive income without selling the assets.
⬩However, one sizeable issue remained: cost. The minimum amount of ETH required for staking to join the Beacon Chain was 32 ETH.
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⬩However, one sizeable issue remained: cost. The minimum amount of ETH required for staking to join the Beacon Chain was 32 ETH.
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⬩Several projects began working on a more accessible way to stake on Ethereum, called liquid staking.
⬩It allowed individuals to contribute smaller amounts of ETH, receiving a token that represents their staked ETH value.
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⬩It allowed individuals to contribute smaller amounts of ETH, receiving a token that represents their staked ETH value.
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⬩The Shanghai upgrade is a series of upgrades for the Ethereum and collectively, their effects are significant.
⬩The most impactful upgrade allows ETH stakers to remove both their staked ETH and the rewards accrued.
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⬩The most impactful upgrade allows ETH stakers to remove both their staked ETH and the rewards accrued.
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⬩The Shanghai upgrade also has several other proposals related to the Ethereum Virtual Machine (EVM) Object Format (EOF).
⬩It contains more than 120 operation codes that give decentralized programmability to the networks.
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⬩It contains more than 120 operation codes that give decentralized programmability to the networks.
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⬩One of the proposals that won't be present in the March 2023 release is EIP-4844.
⬩It introduces "proto-danksharding" and sets up the highly anticipated sharding upgrade for Ethereum due in 2024.
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⬩It introduces "proto-danksharding" and sets up the highly anticipated sharding upgrade for Ethereum due in 2024.
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⬩The minimum amount of ETH required for staking to join the Beacon Chain was 32, making it out of reach for most.
⬩However, liquid staking allows individuals to contribute smaller amounts of ETH, receiving a token that represents their staked ETH value.
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⬩However, liquid staking allows individuals to contribute smaller amounts of ETH, receiving a token that represents their staked ETH value.
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⬩Some of the most popular liquid-staking options are offered on the platforms @LidoFinance , Coinbase , and @Rocket_Pool .
⬩Lido has especially been popular and accounts for the vast majority of the liquid-staked ETH.
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⬩Lido has especially been popular and accounts for the vast majority of the liquid-staked ETH.
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⬩@MetaMask has integrated both Lido and Rocket Pool so that their users can stake ETH directly from their MetaMask wallets, once the Shanghai upgrade is complete.
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⬩Overall, the Shanghai upgrade is an important milestone in Ethereum's ongoing evolution.
⬩As the network continues to mature and improve, we can expect even more exciting developments in the years to come. Stay tuned!
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⬩As the network continues to mature and improve, we can expect even more exciting developments in the years to come. Stay tuned!
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(13/13 🧵)
1. Follow @ourcryptotalk for more of these.
2. Tell us your thoughts on Shanghai Upgrade.
3. RT the tweet to share this thread with your audience.
(13/13 🧵)
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