Ethereum validators will be able to withdraw the Ether from the Beacon chain with the Shapella hard fork to be activated on the Ethereum mainnet.
- Ethereum validators will be able to withdraw Ether from the Beacon chain.
- The reward is doubled for any bug found in the Shapella code.
The Shapella hard fork set to activate on the Ethereum mainnet on April 12. Ethereum core developers confirmed that Shapella takes effect at epoch 194048, and scheduled for 10.27 p.m. UTC on April 12.
Ethereum validators will be able to withdraw the Ether from the Beacon chain with the support of Shapella. The withdrawals enabled by Ethereum Improvement Proposal EIP-4895 involve pushing staked ether from the Beacon chain to Ethereum Virtual Machine (EVM), also known as the execution layer.
After a week-long deliberation among the members of the Ethereum Foundation, the slot, epoch, and time confirmed, which was led by the Ethereum core developer Tim Beiko. Moreover, the hard fork will allow for partial or full transactions, and several mechanisms are set to be added to make sure the flood from ether doesn’t affect the market.
Ethereum Price Surges After Shapella
The Ethereum Foundation stated that the test run in Goeril was smooth, but there was a notable delay in the activation time due to validators not updating their client software. However, Beiko is confident it won’t be an issue this time, as Ethereum validators will be economically incentivized to make the update for the mainnet.
At the same time after this announcement, Ethereum’s (ETH) price surged over 4.50% and traded at $1,809 according to CoinMarketCap.
The Ethereum Foundation also announced that it would double the reward for any bug found in the Shapella code. Successful bounty hunters will receive a reward of somewhere between $2000 and $250,000, depending on how critical the bug is.