The final public testnet for ETH 2.0 aims to launch just fortnight from now. The long awaited Ethereum [ETH] 2.0 network upgrade has taken one step closer to launch with a preliminary date announced for the ultimate planned public testnet.
After discussions with client teams, subsequent multi-client testnet (mainnet config including min validator numbers) will have a min genesis time of 4th August,
Further details would be made public during a few days, the Ethereum developer added. Phase 0 of ETH 2.0 has been running on various testnets since the genesis block was created for Beacon Chain in April. Phase 0 is that the first stage within the long awaited upgrade to Proof-of-Stake and can dramatically increase transaction speeds.
Instead of the present Proof-of-Work system which involves miners, ETH 2.0 are going to be secured by users putting up a minimum of 32 ETH stake to run a validating node. Three months of successful testing
Beacon Chain went survive the initial testnet, called Sapphire, in April using smaller 3.2 ETH deposits. Following its success, full 32 ETH nodes went sleep in May on the Topaz testnet and staking rewards were issued.
The Onyx testnet commenced in June and was running steadily with around 20,000 validators by the top of the month. Finally, the Altona coordinated multi-client testnet for Phase 0 went sleep in early July to make sure stability before a public testnet might be unrolled .
Prysmatic Labs have conducted most of the previous testing. The Prysm ETH 2.0 client was successfully audited last week by blockchain security and auditing firm Quantstamp. A weekend blog post by Prysmatic confirmed that its developers are “so close” to launching a final multi-client public testnet.
Network struggling Ethereum has faced increased pressure recently from a surge in stablecoin issuance and therefore the DeFi boom. Gas usage and network fees have skyrocketed to record levels leaving the platform hospitable criticism from its detractors.
In the interim, Layer 2 scaling solutions could alleviate these bottlenecks and convey gas fees backtrack to sustainable levels. But within the end of the day there’s tons riding on Ethereum 2.0.