Consensys Releases ETH Pledge Withdrawal Guide for Shanghai/Capella Upgrade

03/08/2023 00:23 • Tech Trends • 85 views

On March 8, Consensys released the ETH Pledge Withdrawal Guide, which mentioned that the main achievement of Shanghai/Capella upgrade is to allow the pledgor to withdraw their pledged ETH, but more specifically, it will provide three key functions related to withdrawal: 1. It can update the withdrawal voucher of the Ethereum verifier from the old 0x00 type (from the BLS key) to the newer 0x01 type (from the Ethereum address). 2. The consensus level award obtained by partial withdrawal or automatic “withdrawal” from the balance of the active verifier (more than 32 ETH) on a regular basis. 3. Withdraw in full or recover the full balance of the “withdrawal” verifier. Only verifiers with newer 0x01 type withdrawal vouchers are eligible to make partial and full withdrawals. However, there is no need to do so at present, because the verifiers with 0x00 authentication will continue to receive rewards as they have since the birth of the beacon chain. Please note that once the verifier updates its withdrawal voucher from 0x00 type to 0x01 type, it cannot be changed. This is a one-time one-way change of withdrawal voucher from 0x00 to 0x01.

Consensys released the ETH Pledge Withdrawal Guide and recommended partial withdrawal. At that time, the commemorative NFT will be launched

Analysis based on this information:

The recent release of the ETH Pledge Withdrawal Guide by Consensys has shed light on the main achievement of the Shanghai/Capella upgrade, which allows pledgers to withdraw their pledged ETH. The guide outlines three key functions related to withdrawal, including the ability to update the withdrawal voucher of the Ethereum verifier from the old 0x00 type to the newer 0x01 type, which is derived from the Ethereum address.

Additionally, the guide mentions that verifiers with the newer type of withdrawal vouchers are eligible to make partial and full withdrawals. It also notes that verifiers with 0x00 authentication will continue to receive rewards, and there is no need for them to update their withdrawal voucher at this time. However, once the verifier updates its voucher from 0x00 to 0x01, it cannot be changed, as it is a one-time, one-way change.

The consensus level award is another important aspect of the upgrade, which allows verifiers to receive rewards through partial withdrawal or automatic “withdrawal” from their balance of active verifier (more than 32 ETH) on a regular basis. This functionality enables verifiers to leverage their funds for multiple purposes while still receiving rewards.

Overall, the ETH Pledge Withdrawal Guide provides valuable information for those looking to withdraw their pledged ETH, outlining the technical details of how the Shanghai/Capella upgrade allows for this functionality. The guide also emphasizes the importance of being aware of the one-time, one-way change of withdrawal voucher from 0x00 to 0x01, and the eligibility criteria for making partial and full withdrawals.

In conclusion, the release of the ETH Pledge Withdrawal Guide provides clarity and transparency regarding the Shanghai/Capella upgrade’s key functions for withdrawing pledged ETH. The guide offers helpful information for those seeking to maximize the value of their investments on the Ethereum platform.

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