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Ethereum launches a testnet to start work on the Shanghai upgrade

Last month, Ethereum’s merge event went as a success, and now their developers are starting to turn their attention to the network’s next Shanghai upgrade. On Friday, the Ethereum Foundation announced the launch of a pre-Shanghai testnet called Shandong.

Shandong, which will be built by Ethereum’s core developers, will be used as a testing ground for numerous Ethereum Improvement Proposals. The Ethereum’s developers will build it, tweak it, and select the number of updates that will be included in Shanghai when it eventually goes live. 

Ethereum’s core developers previously confirmed that the Shanghai upgrade is expected to launch by September 2023, but the developers have not yet agreed on a firm timeline. The proposals which will be included in the Shanghai upgrade is remains an unsolved question. However, the developers have expressed different priorities for what proposals they believe are most necessary to include in the upgrade. 

There are some chances that the Shanghai upgrade will include the biggest-ticket update EIP-4895, which would allow users that hold staked ETH with Ethereum to withdraw it. Last month, the merge moved the Ethereum network to a proof of stake mechanism, through which users can now deposit stores of pre-existing ETH to generate new ETH.

Another update, which is expected to be in the Shanghai upgrade is proto-danksharding, the tool that makes transactions cheaper and faster. This update can also offload much of Ethereum’s mainnet transaction traffic to verify huge-size data by only sampling small pieces. This update would increase the speed and ease through which Ethereum transactions could be processed on layer-2 networks such as Optimism and Arbitrum.

Vitalik Buterin, the co-founder of Ethereum has insisted that for Ethereum’s future, they need to perfect the speed and cost of transactions on such layer-2 networks.

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