Ethereum's years-long transition to proof of stake is now complete, as the withdrawal of staked ETH becomes possible with the successful implementation of the Shanghai upgrade.

With participants having deposited over $34.56 billion worth of ETH with the network, the funds and rewards generated by them were not accessible to users until this upgrade. This upgrade saw Ethereum transition to a proof-of-stake consensus mechanism, which allowed users to stake ETH with the network to validate on-chain transactions and be rewarded for that participation with newly generated ETH. 

EIP-4895: Beacon chain push withdrawals as operations. ETH stakers are allowed to withdraw their staked funds at no Gas fees as validators. They can make partial or full withdrawals.

EIP-3860: Limit and meter initcode. This EIP doubles the maximum size limit of initcode. With double size, contract developers can deploy richer functions. It is a proposal that seeks to reduce Gas fees.

EIP-3651: Warm COINBASE. This EIP concerns the first transaction in the block, which is called a COINBASE transaction. When the first transaction is not preloaded (namely it’s cold), and the gas charge will be higher, while the gas charge will be lower for the pre-loaded (warm) transaction. Payment by ERC-20 is more encouraged after its launch.E

IP-3855: PUSH0 instruction. This EIP introduces the PUSH0 (0x5f) instruction, which pushes the constant value 0 onto the stack. It is a proposal that seeks to reduce meaningless Gas consumption.

EIP-6049: Deprecate SELFDESTRUCT. This EIP deprecates the SELFDESTRUCT opcode and warns against its use. But this does not change the behavior of SELFDESTRUCT in and of itself.

More readings:

Ethereum’s Shapella Hard Fork Executed on Mainnet

Ethereum Trades Flat After Ethereum Shanghai Upgrade

Kraken Starts Withdrawing All Staked Ethereum (ETH) Amid US SEC Pressure

Ethereum Liquid Staking Governance Tokens Fall Ahead of Shapella Upgrade

Topics-Ethereum Shanghai Upgrade