The Shapella hard fork has been executed on the Goerli testnet — the last test run before Ethereum validators will be able to withdraw their Ether from the Beacon Chain.
There were, however, issues with the hard fork. Ethereum core developer Tim Beiko noted that while deposits were being processed, the process didn’t run as smoothly as it could have because several testnet validators didn’t upgrade their client software before the Goerli fork.
He blamed it on testnet validators having “less incentive” to make the upgrade given that the Goerli ETH “is worthless” but expects validators to make proper adjustments ahead of the fork on the Ethereum mainnet.
Ethereum researcher “terence.eth” explained that it took 15 epochs for Shapella to be forked onto the Goerli testnet because network participation was below the two-thirds threshold:
While the Shapella upgrade comprises five different EIPs, EIP-4895 has been by far the most anticipated as it moves Ethereum one step closer to a fully functional proof-of-stake system.
Shapella is expected to take effect on the Ethereum mainnet in early April following a few delays in preparing the Sepolia and Goerli testnets for the fork.
The hard fork will allow for partial and full withdrawals, and will theoretically unlock 17.6 million ETH when Shapella is forked, which equates to over $30 billion at current prices.
However several mechanisms are in place to prevent a flood of the ETH supply from hitting the market, according to the Ethereum Foundation.
