Why is the recent Ethereum upgrade named Shanghai and what is the upgrade about?

The Ethereum Foundation has a tradition of naming major milestone events after cities where significant Ethereum-related events have taken place.

In May 2022, a conference related to Ethereum 2.0 was held in Shanghai, China.

The Shapella upgrade is where two network upgrades will be happening simultaneously.

The Shanghai upgrade refers to the Ethereum Virtual Machine, while the Capella upgrade refers to the Consensus layer.

Due to the two upgrades happening simultaneously, Ethereum enthusiasts have been referring to the upgrade as “Shapella” upgrade.

The core feature of this upgrade will implement the ability for users to withdraw their staked ETH.

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