Launch of the Steklo testnet
Ethereum (ETH) continues to advance. Yesterday, Ether even hit a new record at $ 2,955 and a capitalization of over $ 340 billion. At the same time, the developers of Ethereum (ETH) have announced a crucial step towards the migration to the proof of stake consensus.
So, network developers successfully launched the “Steklo” testnet which means “glass” in Russian. This one was launched with 3 Ethereum 1.0 clients (Besu, Geth and Nethermind) and 4 Ethereum 2.0 clients (Teku, Prysm, Lighthouse and Nimbus). This is the first time that eth1 and eth2 have communicated, which is essential for a transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS).
Ethereum 2.0 developer Diederik Loerakker said the Steklo testnet remains quite unstable. He explained :
“The testnet is in a pretty unstable state right now. We’ll be running more user-centric testing in the coming weeks, once things stabilize enough. Good job everyone on this first devnet, we’ve made a lot of progress in setting up testnet and onboarding clients. “
According to some estimates, the merger of the two consensuses could take place from December 1, 2021.
👉 To read on the same subject: The EIB issues bonds on Ethereum – ETH price hits record
More than 4 million ETH in staking
In total, Ethereum 2.0 deposit agreement hosts more than 4.11 million ethers in staking, or around $ 11.8 billion at the current price.
Evolution of the number of ETH in staking – Source: Dune Analytics
The number of active validators securing the network increased during the first quarter of 2021. There are around 120,000 validators currently active.
Thus, the more ETH there is in staking, the more the network will be decentralized and secure. As a reminder, the Ethereum 2.0 deposit contract serves as a bridge between the current proof-of-work process and the new proof-of-stake consensus. This new consensus mechanism will allow many more transactions to be processed while reducing transaction costs..
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