A software update will allow users to withdraw delivered air
The largest commercial backbone of cryptocurrencies, Ethereum, will receive a significant software update on April 12 that may increase its appeal to both investors and developers.
Over 17.5 million so-called “staked ethers,” valued at about $29 billion at the time of writing, are not now present on the network, even though their owners receive income from them.
Players may have to wait in line to withdraw their tokens.
The new software version, codenamed Shanghai, will allow customers who have committed their Ethereum tokens to order transactions on the Ethereum network for their withdrawal.
After releasing the last software test earlier this week, the Ethereum software engineers, who have been working on Shanghai for several months, were finally ready to set a date.
Withdrawals are likely to commence following the opening of Shanghai, although these will be limited to guarantee the security of the network, and the wait for withdrawals might take weeks or even months.
Henry Elder, Head of Decentralized Finance at Wave Digital Assets, claims that Shanghai will provide investors who choose to stake their Ether more options and maybe increase the currency’s investment appeal.