$ETH has hit an eight-month high ahead of the highly anticipated Shapella network upgrade
This shift from the energy-intensive proof-of-work model is expected to improve Ethereum's energy efficiency, reduce transaction fees and enhance its overall scalability.upgrade last September, this major upgrade will allow users to withdraw their staked Ether for the first time since the previous update. Shapella is set to go live on the Ethereum network on April 12.
In addition to the PoS transition, the upgrade will introduce shard chains, which are designed to distribute the network's data processing workload, further improving its capacity and performance. In the run-up to the upgrade, Ethereum Bug Bounty rewards for Shapella-related vulnerabilities have been doubled through April 5. This initiative is aimed at motivating security professionals and researchers to identify and fix any potential issues before the Shapella upgrade is implemented.
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