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Developers to test withdrawal function from Ethereum’s deposit contract

Developers to test withdrawal function from Ethereum's deposit contract

The Ethereum team launched devnet with the aim of testing the withdrawal function for Ethereum validators from the deposit contract. This was stated by Geth client developer Marius van der Wijden.

The Ethereum team launched devnet with the aim of testing the withdrawal function for Ethereum validators from the deposit contract. This was stated by Geth client developer Marius van der Wijden.

In a conversation with The Block, van der Wijden noted that the devnet launch will help prepare the blockchain for the rollout of the withdrawal function. It is planned to be integrated in 2023 as part of the Shanghai update.

“This is the first devnet that allows withdrawing assets on all implementations, and it is a big step forward. It will also help developers of other clients verify their implementations by joining the network,” he said.

According to van der Wijden, alongside the Geth team, developers Lodestar, Teku, Lighthouse, Nethermind and Prysm joined the testing.

On November 24, Liam Horn, head of OP Labs (behind Optimism) also said that the core Ethereum development team would discuss the possibility of integrating into the blockchain the proposal EIP-4844.

“EIP-4844 adds a new fee market to Ethereum for short-lived data. Rollups would use this for data availability instead of hijacking regular gas,” wrote he.

According to Horn, implementing the proposal would reduce transaction fees by roughly 100x. He also stressed that the initiative does not mean that the improvement will be included in the Shanghai update.

In November 2022, Vitalik Buterin published an updated Ethereum development roadmap. The project team intends to address MEV issues and fully integrate zk-SNARK technology into the blockchain.

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