Share this article
Ethereum Developers to Launch New Testnet ‘Zhejiang’ for Simulating ETH Withdrawals
Users will be able to get a sense of how staked ETH withdrawals will work from a testnet due to go fully live on Feb. 7.
Updated Jan 31, 2023, 10:31 p.m. Published Jan 31, 2023, 10:10 p.m.
Make us preferred on Google
Ethereum developers will open a new test network on Wednesday called “Zhejiang,” where users can start testing Ethereum Improvement Proposal-4895, also known as staked ether withdrawals, that’s included in the protocol’s next big upgrade, the so-called Shanghai hard fork.
Testnets run on top of and duplicate the main blockchain. They allow developers and users to test upgrades and applications in a low-stakes environment before going live.
STORY CONTINUES BELOW
This new testnet, which will go live at 10 a.m. ET (15:00 UTC), will provide the ability to test staked ETH withdrawals (EIP-4895). Users won’t immediately have the ability to participate in the simulated withdrawals until the testnet goes through an upgrade on Feb. 7. For now, users will be able to deposit ETH to validators on the testnet, and then withdraw them the following week.
The Zhejiang public testnet is going live tomorrow (1st of Feb 15:00 UTC, 2023). Shanghai+Capella will be triggered 6 days later (at epoch 1350). You will be able to deposit validators, practice BLS change and exit without risk. All links are here: https://t.co/XNlsDIG0cm pic.twitter.com/sKKDJmolt2
— Barnabas Busa (@BarnabasBusa) January 31, 2023
The launch of the Zhejiang testnet comes after Ethereum developers deprecated the Shandong testnet. They agreed to shut down Shandong because it included a few EIPs surrounding EVM Object Format (EOF), which is no longer included in the Shanghai upgrade. Developers agreed earlier this month that the upgrade for EOF will instead be a part of a separate Ethereum hard fork expected in the third quarter.
Read more: Ethereum Developers Target March 2023 for Release of Staked Ether
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Solana’s new phase is ‘much more about finance,’ says Backpack CEO Armani Ferrante
The Solana ecosystem has spent the past year doubling down on a financial infrastructure, Backpack CEO Armani Ferrante told CoinDesk.
What to know:
- Solana’s latest phase looks a lot less flashy than its memecoin-fueled highs, and that may be the goal.
- Armani Ferrante, CEO of crypto exchange Backpack, told CoinDesk in an interview the Solana ecosystem has spent the past year doubling down on a more sober focus: financial infrastructure. A
- fter years of experimentation as the wider crypto industry focused on NFTs, games and social tokens, attention is now shifting back toward decentralized finance, trading and payments.
Top Stories
