Giottus to support Ethereum’s Shapella (Shanghai) upgrade; to suspend ERC-20 deposits, withdrawals

Giottus will support Ethereum’s Shapella upgrade, scheduled for April 13, 2023, around 3:30 am IST (tentative).

What is the Shapella Upgrade?

Ethereum, one of the largest blockchains, is set to undergo the Shapella upgrade and this is expected to improve the network’s scalability, security, and sustainability.

The Shapella upgrade will introduce several improvements to the Ethereum network including:

Increased scalability: The Shapella upgrade will introduce a new shard-based architecture allowing the network to process more transactions per second.

Improved security: The upgrade will see several new security features that will make the network more secure against various types of attacks.

Enhanced sustainability: The PoS mechanism introduced by the Shapella upgrade will make the Ethereum network more sustainable by reducing its energy consumption.

Staked Ethereum (ETH) assets can also now be un-staked or withdrawn.

Suspension of ERC-20 deposits and withdrawals

As a leading Indian crypto platform, Giottus is committed to providing its customers with the best possible experience. During the Shapella upgrade, we will closely monitor the situation and steps to ensure that our customers are not impacted by the upgrade.

Giottus will temporarily suspend ERC-20 (including ETH) deposits and withdrawals during the upgrade period (3.00 am to 6.00 am IST on April 13, 2023). Once the upgrade is complete, we will resume Ethereum deposits and withdrawals.

Trading to continue

All trade of ETH and ERC-20 assets across INR and crypto base pairs will remain available throughout the upgrade.

For further information, please contact support@giottus.com.