In this article I will talk about the Shanghai update explaining because it is important for and what will change. Basically, withdrawals from the consent layer to the execution layer will be re-enabled. If you are a staker or holder what should you do? NOTHING. Update will be automatic for chain.
The situation is different if you have a validator node (you will need to enter an address).
I remind you that Ethereum was born in 2015 as Proof Of Work (like Bitcoin), then in November 2020 the Beacon Chain was launched (it represents the separation between executed transactions and consensus regarding irreversibility). Until September 2022, the consensus algorithm remained mining (execution layer), after this date the "" between the two chains (execution and beacon chain/consensus) took place which led to the "Proof Of Stake".
To date it is possible to stake (consent) but not withdraw from the Beacon Chain (unstaking). With the Shanghai update (April 2023), it will be possible to withdraw your ETH from the Beacon Chain. The last testnet where these updates will be tested will be Goerli. Actually there will be two types of update (EP-4895):
-Shanghai (concerning the executive chain)
-Capella (inherent in the consensus chain, i.e. the Beacon Chain)
It will be possible to withdraw only the staking rewards obtained or all (your own ETH staked + the staking rewards). You surely know that the security of a network is given by the native token (ETH in this case) staked. What if all validators decide to withdraw their 32 ETH? An attack on the chain could occur. For this reason there will be constraints on the amount of ETH that can be withdrawn.
PROBLEM SOLVING
First of all, it should be emphasized that it will be possible to make 16 withdrawals per block (it will include both staking rewards and full unstake) and no more. Furthermore there will be some steps to be performed for those who will do full unstaking (consensus branch -> executive branch):
-Exit Epoch (4 waiting epochs)
-Withdrawable Epoch (256 waiting epochs)
Ethereum blocks are produced 1 every slot (1 every 12 seconds) and every 32 slots there is an epoch change. If a validator decides to unstake in a given block of epoch 1, before doing full unstaking, at least 4 epochs must pass, so he can unstake in epoch 5 (5 epochs=32 minutes).
This applies if there are only 7 validators unstaking in that given epoch because if they were more than 7, from the eighth onwards you will have to wait for the next epoch (2) and then wait for the next 4 (i.e. epoch 6) . 4 epochs are about half an hour. When I reach the exit epoch, the validator node stops validating transactions and no longer receives rewards. However, the withdrawal will only be possible after another 256 epochs have passed (ie if I exited epoch 5, it will have to wait for epoch 261. In terms of time? A few days. Maybe 30-48 hours).
The frequency that will affect withdrawals are:
-16 withdrawals per block
-Max 16384 interrogable validators (to perform the unlock operations)
-7 full unstaking for each era
-Consensus slot time: 12 seconds
-Missing block (if there are empty blocks for any problems)
For more info: Your Ultimate Guide to ETH Staking WithdrawalsSignatures
The first stakers come from 2 years of lock. If you are an ETH holder don't worry! Even if many validators leave the chain by unstaking, the rewards would become much higher, incentivizing others to stake or validate transactions! The ability to stake/unstake easily could incentivize many more stakers. Some may prefer liquid staking which allows you to use staking and have a liquid derivative of ETH to use in DeFi for additional income!
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