Ethereum developers have launched the Zhejiang testnet to simulate the withdrawal of ETH from the Beacon Chain staking contract.
Reportedly, the functionality will be incorporated into the network with the EIP-4895 update, which is planned to be implemented with the Shanghai hard fork of the Ethereum network.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
A hard fork will take place in Zhejiang on February 7 that will activate EIP-4895. At the moment, users will only be able to deposit ETH.
It should be noted that the developers have previously launched a devnet to test the function of withdrawing cryptocurrencies from a deposit contract by validators.
Last January 24, the Ethereum team successfully implemented a shadow fork in Shanghai aimed at testing the impact of the planned update on the mainnet.