With the Shapella hard fork scheduled to be activated on the Ethereum mainnet on April 12, Ethereum validators will soon be able to withdraw their Ether from the Beacon Chain.

Shapella will take effect at epoch 194,048 on April 12 at 10:27 UTC, as confirmed by Ethereum core developers.

Ethereum Improvement Proposal EIP-4895 will enable the withdrawals by “pushing” staked ether from the Beacon Chain to the Ethereum Virtual Machine (EVM), also known as the execution layer.

The epoch, slot, and time were confirmed following a week-long deliberation between members of the Ethereum Foundation, which was led by Ethereum core developer Tim Beiko.

While the hard fork will allow for partial and full withdrawals, several mechanisms are set in place to ensure a flood of Ether doesn’t disrupt the market.

Even though the most recent testnet run on Goerli was described as “smooth” by the Ethereum Foundation, there was a significant delay in activation time because many validators did not update their client software.

But Beiko is certain that it won’t be a problem this time because Ethereum validators will be paid to make the mainnet update.

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Ethereum’s key hard forks

In view of EIP-4895, Shapella is viewed as the main hard fork on Ethereum since Paris — the Consolidation — changed the organization agreement component from confirmation of-work to verification of-stake on Sept 15.

Prior to that, in August 2021, London introduced EIP-1559, which replaced the previous price auction method with a base fee that users were required to pay. In order to make Ether deflationary over time, the base fee is burned while the validators continue to receive a block reward and tip.

Berlin reduced the cost of gas for some EVM actions in April 2021, and on December 1, 2020, Beacon Chain Genesis produced the first block on the proof-of-stake chain.

Finally, in December 2019, Istanbul made layer-2 scaling solutions based on SNARKs and STARKs more efficient and improved the resilience of denial-of-service attacks.

Additionally, the Ethereum Foundation announced last week that it would double rewards for any Shapella code bugs discovered. Depending on how “critical” the bug is, successful bounties may receive rewards ranging from $2,000 to $250,000.