The final test for the Shanghai hard fork on the Goerli testnet has gone smoothly, promising to bring the ability to withdraw ETH staking to the Ethereum mainnet in mid-April.

On March 15th, Ethereum developers announced that they have successfully implemented the Shanghai hard fork on the Goerli testnet, testing the ability to withdraw ETH staking. This opens up the possibility of Shanghai being officially released on the Ethereum mainnet in mid-April.

However, the percentage of validators participating in the Goerli test was only 29%, causing the verification time for the upgrade to take longer than expected. Developer Ben Edgington commented that the reason for the low validator participation rate was that they were not prepared enough for the node for the fork.

As reported by AZCoin News, the Shanghai upgrade, also known as Shapella, is the next important Ethereum network-wide hard fork after The Merge in September 2022. Shanghai will bring a significant adjustment to the world’s second-largest cryptocurrency network by unlocking over 17.5 million ETH currently locked in staking contracts. Shanghai has previously been successfully tested on its own testnet and the Sepolia testnet. In early March, the Ethereum development team expected the hard fork to unlock ETH staking to be present on the Ethereum mainnet in mid-April, but they have not announced a specific timeline.

Currently, the Ethereum network has burned more than 3 million ETH (3,001,033) since EIP-1559, worth more than 9.09 billion U.S. dollars. Ethereum’s supply has decreased by 64,288 ETH since the merge, and the current annualized deflation rate is 0.42%. This decrease in supply, coupled with the promising upgrades and successful tests, has boosted the price of ETH to its highest level since The Merge on March 14th, thanks to the strong cryptocurrency market recovery after last week’s bad news.

The successful test of the Shanghai hard fork on the Goerli testnet is an important step towards unlocking the millions of ETH currently locked in staking contracts on the Ethereum network. The upgrade promises to bring significant changes to the network, and its successful implementation on the mainnet in mid-April could further boost the price of ETH.

This article was republished from azcoinnews.com

#ETH #Ethereum #shanghaiupgrade #goerli #ethereumshanghaiupgrade

In a recent development in the world of Ethereum, a new decentralized autonomous organization (DAO) called GoerliDAO has proposed retaining the Goerli testnet as a Canary network.

The Goerli testnet, which has been used by developers worldwide, is set to be discontinued in Q4 2023, after which it will be replaced by the Holesovice testnet. However, GoerliDAO has suggested that the testnet’s impact on the community cannot be ignored and is proposing a solution to turn it into an official Ethereum Canary network.

Unlike testnets, Canary networks are mainly used to evaluate updates in a more risk-based way, similar to the main network before it is launched. GoerliDAO has explained that the popularity of Goerli makes it an ideal candidate to become an official Ethereum Canary network, bringing unique benefits to developers and users alike. The success of Kusama-Polkadot is cited as an example.

Last month, LayerZero introduced the Testnet Bridge, a bridge between the Ethereum mainnet and the Goerli testnet, enabling asset transfers between the two chains. This move by LayerZero sparked controversy as it inadvertently turned Goerli into a legitimate blockchain.

The key element that the Testnet Bridge brings is the elimination of the need to obtain gETH (Goerli’s test token) through faucets, which is time-consuming. Instead, users can directly swap ETH for gETH using Uniswap. Despite opposition to retaining the true nature of a testnet, the price of gETH has at times reached $1.60 due to increasing demand for its use.

GoerliDAO’s proposal to turn Goerli into an official Ethereum Canary network will be welcomed by many in the community who believe in the value of the testnet. The proposal will require broader community consensus, but it highlights the importance of Ethereum’s testnets and how they can be utilized in innovative ways to benefit developers and users.

#GoerliDAO #goerli #Ethereum #ETH #azcoinnews

This article was republished from azcoinnews.com

In finance, trading psychology is critical in determining success or failure. It’s not just about having the right technical skills and market knowledge; understanding and managing emotions are equally important. This blog post aims to help you comprehend the critical aspects of trading psychology and learn how to use them to your advantage, ultimately improving your trading performance.

The Role Of Emotions In Trading

Many traders focus primarily on technical analysis and market fundamentals, often overlooking emotions’ crucial role in their trading decisions. Emotions can significantly impact a trader’s thought process, leading to impulsive or irrational choices that may affect their performance. Recognizing and understanding the emotions that drive trading decisions can help you develop better decision-making skills and create a more disciplined approach to trading.

The Emotional Roller Coaster

Trading can be an emotional roller coaster, as traders may experience many emotions, including excitement, fear, anxiety, and frustration. These emotions can cloud judgment, causing traders to deviate from their planned strategies, take unnecessary risks, or exit positions prematurely. By acknowledging the emotional aspect of trading, you can learn to recognize when your emotions are influencing your decisions and take steps to manage them effectively.

Emotional Biases In Trading

Emotional biases can heavily influence trading decisions, leading to suboptimal outcomes. Some common emotional biases include:

Confirmation bias: The tendency to seek information that confirms pre-existing beliefs while disregarding contradictory evidence. This bias can lead traders to ignore warning signs and hold onto losing positions based on unfounded optimism.

Anchoring bias: The tendency to rely too heavily on an initial piece of information when making decisions. This may cause traders to hold onto a position based on the initial entry price, even when the market conditions have changed.

Herd mentality: The inclination to follow the crowd rather than make independent decisions. Traders who fall victim to herd mentality may buy or sell assets based on popular opinion or market sentiment, leading to poor decision-making.

By understanding the role of emotions in trading and identifying the emotional biases that may influence your decisions, you can develop strategies to manage these emotions and improve your overall trading performance. Developing emotional intelligence and self-awareness is essential to becoming a successful and disciplined trader, enabling you to make rational, well-informed choices in the constantly evolving world of financial markets.

Fear And Greed

Fear and greed are powerful emotions that often drive traders to make irrational decisions. Fear can cause traders to sell prematurely, while greed can push them to hold positions longer than they should. Recognizing the influence of these emotions is crucial to maintaining a balanced approach in trading.

Overconfidence And Loss Aversion

Overconfidence can lead to overtrading and poor risk management, as traders may believe they can predict market movements with certainty. On the other hand, loss aversion is the tendency to hold onto losing positions for too long, hoping they will turn around. Being aware of these biases can help traders make more rational decisions.

Recognizing And Managing Emotional Triggers

Developing self-awareness is critical to becoming a successful trader. By understanding your emotional triggers, you can learn to manage them effectively.

Identify Your Emotional Triggers

Pay attention to your feelings and thoughts during trading to recognize the signs of emotional triggers. Look for patterns in your behavior that indicate stress, anxiety, or excitement. Keeping a trading journal can be an effective way to identify these triggers.

Develop An Emotional Management Plan

Having the plan to manage emotions during trading can significantly improve your decision-making. This plan should include coping strategies, maintaining focus, and handling negative emotions. Breathing exercises, meditation, and regular breaks can help you control your emotions during trading.

Cultivating A Winning Mindset

Having the right mindset is crucial to trading success. A winning attitude involves setting realistic goals, embracing a growth mindset, and staying focused on your objectives.

Goal Setting And Visualization

Setting realistic goals helps you maintain motivation and provides a clear path. Break down your goals into smaller, achievable steps and track your progress. Visualization techniques can help you focus on your objectives, allowing you to picture yourself achieving your goals.

Embracing A Growth Mindset

A growth mindset believes that your abilities can be developed through dedication and hard work. This mindset is crucial for traders, as it encourages them to view setbacks as opportunities for growth. To foster a growth mindset, focus on learning from your mistakes and seeking feedback from others.

Building Mental Resilience

Mental resilience is a vital component of trading psychology. Developing resilience helps you adapt to challenging situations, manage stress, and bounce back from setbacks.

Develop A Healthy Stress Response

Stress can negatively impact trading performance, leading to poor decisions and burnout. Managing stress effectively involves recognizing the signs of stress, such as irritability, fatigue, or difficulty concentrating, and adopting coping strategies like exercise, meditation, or seeking social support.

Learn From Mistakes And Setbacks

Every trader experiences setbacks, but successful traders learn from these experiences and grow. Analyze your mistakes, identify areas for improvement, and develop a plan to address these issues. By viewing setbacks as opportunities for growth, you can build mental resilience and become a more substantial trader.

Conclusion

In conclusion, mastering trading psychology involves understanding the role of emotions in trading, recognizing and managing emotional triggers, cultivating a winning mindset, and building mental resilience. Applying the techniques discussed in this blog post can enhance self-awareness, maintain emotional control, and improve trading performance.

Remember that success in trading is not only about mastering the market but also about mastering yourself. Embrace the power of self-awareness and mental resilience to navigate the complex trading world more effectively. By seeing inside yourself and understanding your emotions, you can develop the trading psychology that works and achieve your financial goals.

#GPT-4 #GameFi #gaming #gm #goerli