Ethereum: When can Staked Tokens be Withdrawn?
Ethereum developers are planning the next hard fork, dubbed "Shanghai", which will allow the withdrawal of staked ETH.
At a meeting two days ago, the developers laid out a complete timeline for the completion of the Shanghai upgrade, also known as EIP 4895. It is set to launch in March 2023.
Shanghai will allow stakers to withdraw their tokens and provide more flexibility and convenience to those who staked ETH on the network before the Merge.
At this point, there is no guarantee that the proposed timeline will be met – technical difficulties or other unforeseen issues might arise as is often the case.
Developers have also discussed a second hard fork planned after Shanghai, sometime in the third quarter of 2023, which will introduce proto-danksharding, or EIP 4844.
This upgrade will further improve the capacity of the Ethereum network to process more transactions.
EIP 4844 will introduce a new type of transaction format to the network, allowing for temporary off-chain storage of data and access by ETH nodes to meet the scaling requirements of blockchain applications.
What is proto-danksharding?
The goal of sharding is to increase the network’s scalability by dividing it into smaller and more manageable pieces, called shards.
Proto-danksharding is a proposal to implement most of the logic, transaction formats, and verification rules that make up a full Danksharding spec but not yet actually implementing any sharding.
The change/feature introduced by Proto-Danksharding is binary large objects (blobs). Blob isn’t a new word, as it’s a programming language term (binary data stored as a single entity), but it’s new in the context of blockchain.
Ethereum is building a rollup-centric network and a modular chain. Sharding will help it reach its goal and Proto-DankSharding, like Danksharding, is a lead-up to full Sharding.
Andrey Kunev
Reporter at CoinsPress
Andrey Kunev is a knowledgeable cryptocurrency content creator passionate about the crypto market. With extensive experience in market analysis and investment reporting, Andrey is a valuable asset to the CoinsPress team. As a frequent contributor, he offers insightful and comprehensive coverage of market trends, price fluctuations, and new advancements in cryptocurrency. Whether you're a seasoned investor or just getting started, Andrey's clear and concise writing offers a comprehensive look at the current state of the crypto market and its prospects. Stay up-to-date with CoinsPress's expert analysis and commentary on all things cryptocurrency.
