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The long-awaited update that will allow you to withdraw coins locked in staking is scheduled for April
During a conference call on March 16, which was attended by all the main developers of Ethereum, it was decided that the update, codenamed Shanghai, will occur on April 12. Previously, Shanghai’s mainnet update was scheduled to take place in March.
After that, investors who have placed ETH coins in staking will be able to withdraw both the initially deposited collateral and what they have accumulated in the form of income for processing transactions on the blockchain according to the rules of the Proof-of-Stake (PoS) consensus algorithm.
Ethereum is waiting for the Shanghai update in March. Why is it very important
According to the official website of the Ethereum Foundation, as of March 16, more than 17.5 million ETH (approximately $29 billion at the exchange rate as of March 16) was blocked in staking with more than 549 thousand validators who take part in processing transfers within the Ethereum network, receiving a reward of the form of new coins. The amount of the minimum deposit of one validator is 32 ETH.
After the update is activated, about 1 million ETH ($1.6 billion) accumulated in the form of rewards alone can enter the market. This creates a risk of pressure on the price of the cryptocurrency, but simultaneously with the update, new participants may join the staking process, for whom the issue of access to assets was fundamental. Other cryptocurrencies operating on PoS did not have such a mechanism initially.
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