Ethereum developer: ETH pledged with Shanghai update will not be unlocked

On Ethereum, about 13.4 million ETH has been locked on the beacon chain since December 2020, and as of today, the total value of ETH is about $21 billion.

As we all know, Ethereum can currently only deposit into staking contracts. Shooting is not possible from here. According to the information given by, Shanghai can withdraw cash after the update.

‘The developers didn’t even make a decision’

In an interview with CryptoSlate, Ethereum developer Micah Zoltu said that withdrawals will not be available in the next Shanghai update. “Many people have been waiting for the Shanghai update, but the developers haven’t even decided what to include in this update,” Zortu said in a statement.

The Shanghai Update is a development focused on reducing the high gas fees of the Ethereum network, but no plans have yet been announced on how this will be achieved. It was said that the goal of the Shanghai update was to withdraw the pledged ETH as well, but this turned out not to be the case. In fact, according to experts, confusion on the issue has even increased.

‘They could lose the trust of the community completely’

Speaking to the website on the subject, Coinbase protocol expert Viktor Bunin said that ethereum investors accept these investments by taking certain risks, using the following statement:

“Developers should now allow withdrawals of staked ETH. If they don’t, they risk losing the trust of the community and never come back.”

The post Ethereum Developers: Updating with Shanghai Pledged ETH Won’t Unlock appeared first on Bitcoin News – Uzmancoin – Crypto & Blockchain.

Source of information: compiled by 0x information from UZMANCOIN, the copyright belongs to the author Hakan Ateşler, and may not be reproduced without permission

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