Altcoin News

Ethereum Shanghai Upgrade: Developers Update EIP-4895 For Staked ETH Withdrawals

Ethereum developers updated the EIP-4895 in preparation for deployment in the Shanghai upgrade to enable ETH withdrawals on Beacon Chain.
Published by
Ethereum Shanghai Upgrade: Developers Update EIP-4895 For Staked ETH Withdrawals

Ethereum developer Alex Stokes on Wednesday said the EIP-4895 has been updated in preparation for deployment in the next planned Ethereum Shanghai upgrade. The update supports validator withdrawals from the Beacon Chain to the EVM through a new “system-level” operation. Presently, the Beacon Chain supports ETH staking, the upgrade prepares the chain for the ETH withdrawals.

Advertisement

EIP-4895 Updated for ETH Withdrawals on Beacon Chain

The Beacon Chain was launched on December 1, 2020, to enable Ethereum (ETH) staking. Also, the chain was introduced to transition Ethereum from proof-of-work (PoW) to energy-efficient proof-of-stake (PoS) through the Merge.

While the Beacon Chain enables ETH staking, it lacks withdrawals for the ETH staked. The “EIP-4895: Beacon Chain Push Withdrawals as Operations” enables support for validator withdrawals from the Beacon Chain to the EVM through a new “system-level” operation type.

While the Shanghai Upgrade has critical Ethereum Improvement Proposals including EIP-3540, EIP- 3074, and EIP-3670, the EIP-4895 is the most important for investors. The withdrawn tokens are represented as an “operation” or a new object in the block.

Moreover, users will be able to withdraw staked ETH tokens without gas fees. The limitations on the maximum number of withdrawal transactions enable low operational costs and negligible gas fees.

Execution clients need to introduce extensions including “withdrawal”, “withdrawals”, and “withdrawals root” to payload validation and processing. Any issue in extension will prevent consensus-layer to execution-layer ETH transfer. Moreover, developers have found no issues with “backwards compatibility”.

With the Merge now completed, developers will focus on the Surge, Verge, Purge, and Splurge phases.

Advertisement

Ethereum (ETH) Price Tumbled After the Merge

The Ethereum (ETH) price tumbled after the Merge, with the price falling to a low of $1,287. The sell-off by whales and macroeconomic factors plunges the ETH price.

At the time of writing, the ETH price is trading at $1,326, still below the key support level. With the Fed probably announcing a 75 bps hike today, the ETH price is most likely to dive further as the U.S. dollar index has hit a 20-year-high.

Share
Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Donald Trump Shortlists Hassett, Warsh, and Waller for Fed Chair

U.S. President Donald Trump has revealed his shortlist of candidates who could potentially replace Fed…

September 6, 2025
  • 24/7 Cryptocurrency News

Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes

Ethena Labs has secured fresh funding from ArkStream Capital as it expands its ecosystem in…

September 6, 2025
  • 24/7 Cryptocurrency News

SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes

The U.S. Securities and Exchange Commission has launched a task force designed to tackle cross-border…

September 6, 2025
  • 24/7 Cryptocurrency News

Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze

Justin Sun responded to World Liberty Financial freezing his wallet by promising to purchase $20…

September 6, 2025
  • 24/7 Cryptocurrency News

Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500

Michael Saylor's Strategy (NASDAQ: MSTR) missed the inclusion in the S&P 500 index on Friday,…

September 6, 2025
  • 24/7 Cryptocurrency News

MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings

MARA announced that it now holds $5.9 billion worth of Bitcoin. This cements its position…

September 6, 2025