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In Ethereum’s transition from the proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism, network validators were expected to stake 32ETH to be eligible in the block validation process while accruing network rewards for validating transactions. However, since the completion of the Merge, validators have not been unable able to access their staked ETH. The Shanghai hard fork through EIP-4895 designed to primarily focus on ensuring that network validators are able to access or withdraw their ETH (both staked and accrued ETH). The hard fork also introduces other improvements related to gas fees.
The Shanghai hard fork is expected to occur when the Beacon chain epoch reaches 194048 estimated to take place on April April 12, 2023, approximately 10:27 :35 PM UTC pm UTC / April 13, 2023, 2:27am GST (epoch 1681338455).
Announcement | Ethereum Shanghai Hard Fork
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