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The Last Kiln Testnet Rollout Brings Ethereum's 'Merge' One Step Nearer.
2022-03-15 | Selina Mathew
The much-awaited 'Merge' on the Ethereum network has moved one stride nearer to actuality, with the creation of the last public testnet Kiln to set it through its trials.
The Ethereum Foundation requested network parties on March 14 to conduct Kiln testing "to guarantee a seamless transition on present public testnets."
In a March 14 tweet, Ethereum engineer Tim Beiko stated that Kiln has come live as well as would shortly be prepared to join with the Beacon Chain. The proof-of-work testnet went live late last week.
Kiln has become a proof-of-work (PoW) testing platform for Ethereum developers, node operators, as well as stakeholders. It is the last public testnet prior to the entire network switches to proof-of-stake from PoW later this year. Kiln would thoroughly test the merging later this week.
Kiln was initially created as a PoW testnet that emulated the operating context of the Ethereum network. It operated concurrently with the Beacon Chain, the inaugural significant PoS element of Ethereum 2.0 (currently known as the consensus layer), where ETH holders could stake their currencies and start safeguarding the Ethereum network's destiny.
The shift of Ethereum's (ETH) mainnet from PoW to PoS would be a watershed moment in the network's history. The upcoming stage of Ethereum would enable the blockchain's safety to be based on staked tokens instead of expensive and power-striving mining gear.
The Beacon Chain would be docked with the Ethereum mainnet throughout the network's migration from PoW to PoS. As per a study by the cryptocurrency financial journal Bankless, the Merge might happen as early as June, despite being set for Q1, 2022 on the formal timeline.
The 10 million ETH invested in the Beacon Chain is presently yielding around 4.8 percent annually investors. Following the Merge, that return may increase to as much as 15%, and network running expenses would be just a fraction of its PoW predecessor's, according to Bankless.
