Ethereum is gearing up for “Shanghai,” a significant update that will allow users to withdraw their staked ETH, scheduled for April 12.
Tim Beiko, Ethereum’s lead developer, confirmed the date for the Shanghai hard fork via a tweet on Thursday, highlighting that the update would occur at block 6209536.
This announced date indicates a minor postponement from Beiko’s initial indications during a developer call in December of the previous year.
In that discussion, Beiko had aimed for a March rollout of the update, emphasizing that enabling these withdrawals was the paramount concern for all involved.
The forthcoming Shanghai hard fork has garnered significant attention from the ETH community as it paves the way for the withdrawal of ETH tokens staked in Ethereum’s transitioned proof-of-stake (PoS) blockchain.
This enhancement is projected to entice a larger pool of stakers to the Ethereum platform, potentially boosting the value of ETH in the process.
Some still skeptical
The inability to withdraw staked ETH has been a contentious issue among crypto enthusiasts, leading some critics of Ethereum to doubt if such withdrawals would ever be permitted.
Just this past January, a Bitcoin advocate, expressing skepticism over the possibility of staked ETH withdrawals, engaged in a wager with Eric Wall, a renowned cryptocurrency investor and commentator. The stake? A tungsten cube.
Wall didn’t miss the opportunity to inform his Twitter audience about this bet, also recalling past victories where he acquired tungsten cubes from other crypto community members.
Wall quipped, “Bitcoiners seem to confidently spout off every year. As they continue, I’ll keep adding to my tungsten cube collection.”