December 5, 2022

Tim Beiko: “ETH stakers will have access to locked assets with the next network update”

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1 min.

Tim Beiko: “ETH stakers will have access to locked assets with the next network update”

Ethereum stakers are concerned about the postponement of access to blocked assets. However, developer Tim Beiko is confident that "the fears of users are unfounded."

Last week it was reported that EthereumThe Foundation has postponed the withdrawal of locked ether (ETH) from Beacon Chain to an indefinite date. Previously, the official Ethereum Foundation website indicated a withdrawal period for ETH from 6 to 12 months, but last week, users noticed that the wording had changed and the website no longer had a proposed time frame.

Validators have started placing deposits, at least 32ETH, in the Beacon Chain before the merge, to then participate in the block verification process. The launch of the staking procedure for institutional clients was announced by a number of commercial companies, including SEBA Bank. Since the start of the offering, 467,399 unique validators have blocked almost 15 million ETH.

Ethereum is infamous for constantlybehind schedule and delaying deadlines. However, now that the crypto industry is going through difficult times, and many large companies such as FTX, BlockFi or Genesis have stopped withdrawing assets, any delays in accessing funds are causing users to panic.

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