Skip to main content

Ethereum staking withdrawal testnet Zhejiang to go online Feb. 1

This is the first Ethereum public test since the Merge upgrade in September 2022. Developers said further testnets will be triggered in the coming week.

According to a Jan. 31 post by Ethereum Foundation developer Parithosh Jayanthi, the "Zhejiang" public withdrawal test net will launch on Feb. 1 at 15:00 UTC. Six days after Zhejiang, the Shanghai and Capella testnets will also be triggered at epoch 1350. Jayanthi noted:

"This is also a great opportunity for all tools to test out how they want to collect, display and use the withdrawal information. You can attempt to convert 0x00 credentials to 0x01 and set a withdrawal address. You can test partial withdrawals and full withdrawals by exiting your validator."

The Shanghai upgrade, when fully implemented, will allow the withdrawal of users' staked Ether (ETH) assets and rewards. Since the success of the Ethereum Merge upgrade last September, users have been able to stake their ETH on the proof-of-stake network. However, funds remain locked, pending a new patch.

As told by fellow Ethereum developer Barnabas Busa, Zhejiang will be the first public testnet to launch after the Merge upgrade. Although still in beta, the full withdrawal source code has been published to nodes.ethereum.org. 

Related: Ethereum developers target March 2023 for Shanghai hard fork

Developers at the Ethereum Foundation have been targeting a tentative date of March 2023 for the much anticipated Shanghai hard fork. In addition, the upcoming Zhejiang testnet will also feature all Ethereum Improvement Protocols (EIPs) included in the Shanghai upgrade, such as timestamp-based forking. 

After Shanghai, the next upgrade on developers' roadmap is EIP-4844, to be released in May or June of this year. Experts say that EIP-4844 can potentially increase the scalability of layer-2 rollups on Ethereum by factors of 100x and lower transaction fees.

Comments

Post a Comment

Popular posts from this blog

Crypto market ‘dramatically underestimates’ bullishness of spot Bitcoin ETFs

Image
“It’s reckless not to aggressively accumulate BTC at current levels,” K33 senior analyst Velte Lund said in a recent report. The potential of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval to drive prices up is dramatically underestimated by the crypto market , claim analysts from crypto research firm K33 — formerly Arcane Research.  In a Sept. 5 market report, K33 senior analyst Vetle Lunde and vice president Anders Helseth said the last three months had greatly improved the chances of a spot Bitcoin ETF approval despite the sentiment not being reflected in the price of Bitcoin or other mainstay crypto assets. The analysts explained while Bitcoin had all but given up its gains in the wake of Grayscale’s legal victory over the Securities and Exchange Commission — an approval would “attract enormous inflows” and significantly increase buying pressure for Bitcoin. Bitcoin returned its gains in the wake of Grayscale's victory. Source: K33 Research However, the downside of ...
Read more

Crypto Bias Blocks People from Seeing Coinbase as Goldman 2.0: Bitwise CEO

In a recent tweet, Hunter Horsley, CEO of Bitwise Asset Management, shared his frustration with the poor attention given to the US-based crypto, Coinbase, claiming that people are “sleeping” on the crypto business. Horsley argued that while big banks like Goldman Sachs attempt to avoid a “slow death” by investing in technology, APIs, and retail services, Coinbase has already achieved what many banks strive to attain. He points out that the exchange has an exceptional institutional team with 25% of the most significant hedge funds as clients, over 50% institutional volume, and a suite of first-class tech products. The Bitwise CEO also claimed that Coinbase co-invented the USDC payment rail, facilitating $2 trillion in transfers in 2022 Q4 alone. Rant — People are sleeping on Coinbase. Big banks like GS are working to avoid slow death by getting into technology, APIs (Apple deal), more retail services (Marcus), while grappling with the heft of legacy biz, rate exposure, ...
Read more

Komodo (KMD) Price Prediction 2023-2030: Will KMD Price Hit $ 0.7 Soon?

Image
Bullish Komodo (KMD) price prediction ranges from $0.4 to $0.7 Analysis suggests that the KMD price might reach above $0.68. The KMD bearish market price prediction for 2023 is $0.1775. What is Komodo (KMD)? Komodo is an open-source technology provider that provides the infrastructure and tools for the new decentralized financial system. With Komodo, anyone has the capability of launching a branded decentralized exchange, cross-protocol financial applications, and independent blockchains.   The project’s flagship end-user application is Komodo Wallet (formerly AtomicDEX). It is a non-custodial multi-coin wallet, crypto bridge, and DEX rolled into one app. Being compatible with 99% of cryptocurrencies, Komodo Wallet offers the widest cross-chain, cross-protocol trading support of any decentralized exchange. Komodo Wallet’s DEX feature is built using a peer-to-peer (P2P) atomic swap protocol with decentralized order books. Developers use ...
Read more