Ethereum blockchain developers successfully shadow-forked the network on Monday, January 23rd to run the necessary technical tests ahead of the Shanghai update in March.
According to Valx and quoted by Forkast, the implementation of this fork was successfully carried out in this network. According to Marius Van Der Wijden, a developer at the Ethereum Foundation, only a few minor bugs were reported by users using the Geth client, which have been fixed.
A shadow fork is a version of the Ethereum blockchain that is used to run tests before launching a testnet. The Shanghai public testnet will be activated in the coming days. After the successful execution of the fork in the test network, the main fork will take place in the mainnet.
The Shanghai upgrade is the first hard fork of the Ethereum blockchain since the “merger” event in September of last year. In the Marj hardfork, Ethereum’s consensus mechanism was changed from Proof of Work (PoW) to Proof of Stake (PoS).
Following this upgrade, the 16 million Ether locked in the staking-in smart contract will be allowed to be unlocked and its holders can transfer it to the Layer 1 network. In the analysis of Ethereum by experts, some mention this update with a negative view because they believe that this can lead to an increase in the selling pressure of this digital currency.
The opposite opinion of this point of view points out that the mentioned 16 million Ether constitutes only 13.2% of the total supply of Ethereum and the amount of staked coins in other networks based on Proof of Stake is much higher than this figure. Hence, there is not much possibility to increase sales. They also point to the existence of liquid staking solutions that have been available for network users for some time. By increasing the liquidity of locked tokens, these solutions give them a new life and reduce the risk of locking.
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