Dit is de eerste update van de eerder verschenen versie 2.3.0.0. Met Shareaza kunnen bestanden worden gedeeld over de netwerken van EDonkey2000, Gnutella, Gnutella2 en BitTorrent. De release notes voor versie 2.3.1.0 zien er verder als volgt uit:
Shareaza 2.3.1.0

This is a bug fix release version. Some optimizations were made, Win9x support was reviewed and serious bugs were fixed. It's the last version of Shareaza with Win9x support.

All users are urged to upgrade to this version because of very important security fixes.