The Zhejiang public testnet for Ethereum staking withdrawal is launching on February 1 at 15.00 UTC.
The testnet will give users a first look at the withdrawal process and network functionality after the Shanghai upgrade, which is planned for March.
The initial phase of the test is for testing deposits to validators and familiarizing with the user interface, and trial withdrawals will be enabled on February 7.
The Ethereum Shanghai upgrade is one of the most anticipated events in the crypto world this year and will allow the phased release of ETH that has been staked on the Beacon Chain for up to 26 months.
The exit process for validators includes an exit queue and a withdrawal period, which is subject to a mechanism called the churn limit to ensure the network’s stability.
Currently, 16.3 million ETH worth around $25.9 billion is locked up on the Beacon Chain. Ethereum prices have been relatively stable, with ETH trading at $1,587 at the time of writing.
