Ethereum’s long-awaited update has hit another hurdle: core developers have confirmed that the ability to withdraw staked ETH will be postponed until April.
The decision was made after extensive discussion and analysis by the developers during a call on Thursday. The announcement disappointed the Ethereum community, which had been eagerly awaiting the update.
Ethereum update and the postponement of withdrawals of staked ETH
ETH staking is a process through which users can lock their cryptocurrency in a smart contract and receive rewards for securing the network.
However, once a user has staked their ETH, they cannot withdraw it until the network allows it.
This has been a point of concern for many investors, who have been unable to liquidate their staked ETH.
The update was originally scheduled for March, but some concerns were raised by some Ethereum developers back in January.
These developers doubted that the timeline would be met, and it seems that their predictions have come true.
The delay is due to the complexity of the update and the need for extensive testing to ensure security and stability.
The Ethereum network is one of the most widely used blockchain platforms in the world, and this upgrade is expected to improve the performance, scalability, and security of the network.
The Shanghai upgrade is part of Ethereum’s long-term roadmap and is essential to the platform’s growth and success.
The delay, however, has caused some frustration in the Ethereum community, although it is important to understand that the decision to delay the release date is based on the need to ensure the stability and security of the network.
The developers are committed to providing a high-quality product that meets the needs of the community.
The just cause for the delay, however, is also marked by the importance of proper testing and development in the blockchain industry.
As blockchain technology continues to evolve, it is critical to prioritize security and stability to prevent hacks and other problems.
Proper testing and development can ensure that blockchain platforms become even more secure and reliable, which is essential to their success and adoption.
Despite this, the Ethereum community remains optimistic about the future of the network. The Shanghai update is just one of many planned for Ethereum and is expected to have a significant impact on the platform’s growth and success.
TRON founder Justin Sun puts 150,000 Ethereum in staking
Another piece of news related to staking comes from Tron founder Justin Sun, who is again making headlines in the cryptocurrency world, this time for stating that he has put 150,000 ETH into staking on the Lido cryptocurrency platform.
This move is significant not only because of the large amount of ETH staked, but also because of the potential impact it could have on the cryptocurrency market.
By setting such a large amount of ETH, Sun not only earns rewards, but also helps secure the Ethereum network.
This move also demonstrates Sun’s continued interest in the cryptocurrency space and its willingness to invest.
It remains to be seen whether other high-profile investors will follow Sun’s lead and invest significant amounts in staking cryptocurrencies, as this move could potentially set a trend for the entire industry.
It is worth noting that Justin Sun has been a controversial figure in the cryptocurrency world, with some criticizing his business practices and behavior on social media.
However, his investment in staking on Lido is a clear indication that he is still actively involved in the industry and is looking for ways to contribute to its growth.
It also underscores the importance of staking in the cryptocurrency space and its potential as a source of passive income for investors.
For the time being, Sun’s investment in staking on Lido is a significant development that is sure to attract the attention of the cryptocurrency world and beyond.