Ethereum Shapella upgrade: Community celebrates as update goes live on mainnet
The much-awaited Shapella update on Ethereum has gone live, paving the way for new features such as the unstaking of Ether (ETH). Members of the community celebrated with various responses to the newest update in the Ethereum ecosystem.
Shapella is a term used by the community that blends together “Shanghai” and “Capella,” the upgrades that happened simultaneously. The hard fork is an important milestone on Ethereum's roadmap, leaving a lot of community members excited for the network’s future.
Many members of the community offered their congratulations to the developers of the network. Ethereum Foundation researcher Danny Ryan said that while proof-of-stake (PoS) took a bit of time, the loop was 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 that:
Meanwhile, crypto singer Jonathan Mann celebrated the new update with another song performance at the Shapella watch party.
Can we make this image a meme? pic.twitter.com/vC2pwKkLXd
While some celebrated the present, others decided to look forward to the network’s future. Ethereum community member Anthony Sassano reminded the community that the next major feature will be EIP-4844, which aims to enhance the scalability of rollups on Ethereum.
Related: Ethereum price turns bullish ahead of next week’s Shanghai and Capella upgrades
Meanwhile, blockchain analytics firm Glassnode expects that even though the Shapella update will unlock staked ETH, less than 1% are planning to sell. The analytics company said that only 253 validators have signed up to exit. Apart from this, there are also mechanisms in place to prevent a massive flood
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