Ethereum Foundation Researcher Alerts of Issues Post Shanghai Update

Justin Drake, a researcher at the Ethereum Foundation, has warned about some network anomalies that have emerged after the Ethereum blockchain completed its Shanghai upgrade. In an interview, Drake said that the IP addresses of ETH stakers were visible after the network upgrade, raising privacy concerns. The Shanghai upgrade will let people withdraw their staked Ether, bringing more liquidity to the network. Ethereum developers, after months of intense testing, have deployed the upgrade, against the backdrop of which ETH has reached its nine-month high price point of $2,107 (roughly Rs. 1.71 lakh).

“There is a lot of metadata, you can see deposit addresses, you can see withdrawal addresses, you can see fee recipients, you can see IP addresses,” Drake said on the Bankless Crypto podcast.

For now, it is not clear how long ethereum developers Will deal with these issues.

Meanwhile, the researcher predicts that solo ETH stakers may soon receive special airdrops, which may not be distributed to industry giants.

“Who do we know Kraken yes we know who coinbase is, and we can’t just give them an airdrop if the purpose of the airdrop is to airdrop to specific individuals who are running single validators,” Cointelegraph Quoted Drake continued in the podcast conversation.

Ethereum went through its second major upgrade called the blockchain Shanghai On 13 April.

Prior to the update, industry insiders warned members of the Ethereum ecosystem against potential glitches and network issues that could follow the completion of the upgrade.

Web3 was held by Ilya Volkov, CEO and co-founder of fintech firm YouHodler Said Gadgets 360 says that the Shanghai upgrade can make users a victim of various scams.

Volkov said at the time, “People need to be vigilant especially to avoid phishing attacks in the form of fake wallets or staking services or false promises of guaranteed high returns on fake ETH “