The date from the Shanghai update date for Ethereum has become known

During conference call On March 16, which was attended by all the main developers of Ethereum, it was decided that the upgrade, codenamed Shanghai, would occur on April 12. Previously, the Shanghai update on the main network was scheduled to take place in March, writes RBC Crypto.

After that, investors who have placed ETH coins in staking will be able to withdraw both the initially deposited collateral and what they have accumulated in the form of income for processing transactions on the blockchain according to the rules of the Proof-of-Stake (PoS) consensus algorithm.

According to the official site Ethereum Foundation, as of March 16, more than 17.5 million ETH (approximately $29 billion at the exchange rate on March 16) was blocked in staking with more than 549 thousand validators who take part in processing transfers within the Ethereum network, receiving a reward in the form of new coins. The amount of the minimum deposit of one validator is 32 ETH.

After the update is activated, about 1 million ETH ($1.6 billion) accumulated in the form of rewards alone can enter the market. This creates a risk of pressure on the price of the cryptocurrency, but simultaneously with the update, new participants may join the staking process, for whom the issue of access to assets was fundamental. Other cryptocurrencies operating on PoS did not have such a mechanism initially.