Core developers of Ethereum confirmed that the \”Shanghai\” upgrade will be carried out in the first two weeks of April, or will bring about US $500 million in revenue to Coinbase

It is reported that the developers of Ethereum confirmed in the conference call held on Thursday (March 2) that the \”Shanghai\” upgrade will be carried out in the first two weeks of April this year, and this upgrade will allow users to withdraw the pledged ETH. According to the data of Dune Analytics, at present, the ETH pledged by Lido, Coinbase, Karken and Coin has accounted for 56% of the total pledged amount. JPMorgan analysts believe that the upgrading of \”Shanghai\” will bring \”a new era\” to the troubled Coinbase. The ETH pledge is expected to bring $225 million to $545 million in revenue for Coinbase every year. （decrypt）

Interpretation of this information:

The report stated that the developers of Ethereum have confirmed during a conference call held on March 2 that the “Shanghai” upgrade will be implemented in the first half of April 2021. This update will enable users to withdraw Ethereum that has been pledged on the blockchain. It is worth noting that the upgrade will be carried out in two stages; the first phase will take place in April, while the second phase will occur in July.

According to data from Dune Analytics, currently, the amount of Ethereum that has been pledged by major industry players such as Lido, Coinbase, Kraken, and Coin accounts for 56% of the total amount of Ethereum pledged on the blockchain. This indicates that the implementation of “Shanghai” will have significant impacts on the way these players do business on the Ethereum network.

Based on estimations carried out by JPMorgan analysts, the implementation of “Shanghai” will usher in a new era for the troubled Coinbase. The analysts believe that the ability to pledge Ethereum will generate an estimated revenue of $225 million to $545 million yearly for Coinbase. This is because the new upgrade will allow Coinbase to offer its customers better services, thereby increasing its market share and revenues.

In conclusion, the implementation of the “Shanghai” upgrade on the Ethereum blockchain network is set to have far-reaching effects on the cryptocurrency industry. The ability to pledge Ethereum will lead to significant revenue increases for industry players such as Coinbase. Additionally, the upgrade will help to address some of the current challenges faced by the blockchain network, thereby making it more efficient and user-friendly. All these will make Ethereum more attractive to potential investors and users, leading to further growth and success of the network.