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Ethereum Staking Revolution

by Hans Lipper

The Zhejiang public testnet is set to go live on February 1st at 15.00 UTC, giving users a chance to test out the withdrawal process and network functionality after the Shanghai upgrade. While users won’t be able to test withdrawals until the Shanghai and Capella testnets are upgraded six days later, they will be able to deposit validators, practice BLS change and exit without risk. The Ethereum Shanghai upgrade is one of the most highly-anticipated events on the crypto calendar this year and is expected to be a boon for Ethereum staking since it is no longer locked up. This upgrade will enable the phased release of ETH that has been staked on the Beacon Chain for as long as 26 months. Currently, 16.3 million ETH is locked up on the Beacon Chain, valued at around $25.9 billion. Ethereum prices have remained relatively flat over the past 24 hours, trading at $1,587 at the time of writing. The Shanghai/Capella fork is expected to go live next month, and will enable withdrawals from the Beacon Chain. This will have a huge impact on Ethereum, as it will allow users to access the staked ETH that has been collecting interest.



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