Lido Team Provides Design For Staked Ether Withdrawals

Key Points: The Lido team put up ideas for how the protocol should handle ether withdrawals when Ethereum's forthcoming Shanghai upgrade has been turned on. The Lido team put forward its designs to the Lido DAO, the project's form of governance, via a post on the community's forum.

Timeline of Ethereum, Lido-dao

Bitcoin (CRYPTO: BTC) traded lower this morning, but the cryptocurrency prices remained above the key $22,000 level on Wednesday. Ethereum (CRYPTO: ETH) also recorded losses, falling below the key $1,600 mark on Wednesday.

Despite having pulled back now more than 7% from its recent highs last week around the $1,680 area, Ether (ETH), the cryptocurrency that powers the Ethereum blockchain, is still up close to 18% in the last two weeks. Ethereum is the most popular and well-known smart-contract-enabled decentralized layer-1 blockchain protocol, with its native Ether cryptocurrency the second most valuable cryptocurrency by market capitalization after the world's first cryptocurrency Bitcoin.

Ethereum Shadow fork Goes Live: Users of the world's second-largest blockchain, Ethereum, are one step closer to accessing the $26 billion worth of ETH. On Monday, developers of Ethereum said they have deployed the first mainnet shadow fork in preparation for the Shanghai upgrade in March.

The number of validators on the Ethereum [ETH] Proof-of-Stake network surpassed 500,000, according to data from Glassnode. This milestone comes ahead of the scheduled upgrade for the Shanghai network, set to take place at the end of the first quarter of 2023.

There is no marked shift in the number of new addresses depositing the required 32 ETH, the minimum amount required to be deposited into the Beacon Chain for holders who wish to operate a validator node, into the official Beacon Chain Deposit Address ahead of the Shanghai Upgrade on Ethereum. The Shanghai Upgrade is scheduled for March 2023 and this hard fork will allow stakers to unlock ETH locked in the Beacon Chain.

In this episode of The Scoop, journalist Camila Russo recounts how her personal experience using crypto in South America showed her the advantages of decentralized systems and shares some striking revelations from time spent researching the origins of Ethereum.

Over the last week, the Lido [LDO] protocol witnessed a surge in the number of staked deposits on its platform. According to a tweet on 24 January, the number of staked deposits on Lido increased, except that of Solana [SOL].

Ethereum price has finally recorded some pullback after a 40% rally in January, giving investors an opportunity to buy ETH at lower levels. The ETH price hit a high of $1,674 last Saturday and fell under $1,550 today due to profit-taking by traders as the rally had no significant pullback.

A long-dormant Ether whale who participated in the Ethereum Initial Coin Offering (ICO) might be about to stake a massive 32,015 ETH tokens, according to on-chain analytics-focused Twitter account @lookonchain.

The developers of Ethereum [ETH] made a significant advancement towards deploying the Shanghai update by creating a “Shadow Fork.” Additionally, Vitalik Buterin suggested a method for guaranteeing transaction privacy on the Ethereum network in a related development.