On March 28th, key etheric developers confirmed that the Shapella update would take effect at 10:27 UTC on the evening of April 12th. According to the announcement, the Ethernet improvement proposal (EIP) 4895 will be revoked after the ETH is moved from the transport gate chain to the Ethernet VM virtual machine (EVM)-decision layer. This will allow for full and partial withdrawal and put in place institutions to ensure that the influx of ETH does not easily disrupt the market.
Many community members are happy with a new upgrade and express their views on this message on social platforms. One community member said these people had serious suspicions in the past few years. According to the Twitter client, they are not sure whether they can reduce their holdings. But the community member feels that a new upgrade reinforces the need to believe in something that is constantly improving.
Jesse Pollak also praised Etherum developers for being able to push for upgrades within a month of the original timeline. She wrote on Twitter:
Shapella hardfork is about to be activated on the etheric network, and it will eventually allow the etheric verifier to revoke his ETH from the portal chain. This long-awaited upgrade drew a reaction from community members, from celebrating the news to focusing on other concerns.
Hal Press, CEO of data encryption derivative Northern Rock data (North Rock Digital), also left idle price reviews, praising etheric developers for what they were doing to complete the upgrade.
While praising the developers, another community member stressed that a new upgrade could also be an ominous sign, as some estimate that the Foreign Securities and Exchange Commission (SEC) will take action against the ether after allowing withdrawals.
When many people responded seriously, one Twitter user brought some joy to the composition, saying that it was time to remove ETH, throw it on jpegs, and suggested betting his ETH on irreplaceable dynamic passwords.
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