The “Zhejiang” public withdrawal testnet will launch on February 1 at 3:00 pm UTC, according to a post by Ethereum Foundation developer Parithosh Jayanthi on January 31. At epoch 1350, six days after Zhejiang, the Shanghai and Capella testnets will also go live. Jayanti said, “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.”
Staked assets and rewards worth $1,573 in ETH can be withdrawn once the Shanghai update is fully implemented. Since the successful completion of the Ethereum Merge upgrade in September of 2012, users have had the ability to stake their ETH on the proof-of-stake network. However, until a patch is released, money cannot be accesse.
Merge will launch Zhejiang testnet first
Another Ethereum developer, Barnabas Busa, recently stated that the Zhejiang testnet would be the first to launch publicly following the Merge update. The complete withdrawal source code has been published on the website, despite Ethereum still being in beta.
Developers at the Ethereum Foundation have scheduled the highly anticipated Shanghai hard fork to occur in March 2023. All of the Ethereum Improvement Protocols (EIPs), like timestamp-based forking, from the Shanghai upgrade will also be available on the forthcoming Zhejiang testnet.
After Shanghai, this year’s next upgrade, EIP-4844, will drop in May or June. Experts speculate that EIP-4844 can make layer-2 rollups on Ethereum 100 times more scalable while also lowering transaction fees by an order of magnitude.