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Ethereum Celebrates One-Year Anniversary of Merge with Launch of New Holesky Testnet
The Ethereum blockchain has seen a significant milestone one year after its transition to a proof-of-stake consensus algorithm. The newly introduced Holesky test network, originally named Holli, promises to enhance Ethereum's testing capabilities, effectively doubling its size.
Emergence of Holesky
Ethereum core developers introduced the Holesky test network on September 15, providing developers with an expanded environment for testing applications and addressing bugs without impacting the mainnet. This development marks a significant step in Ethereum's evolution.
Ethereum Merge Anniversary
The launch of Holesky coincides with the first anniversary of the Ethereum Merge event, which took place on September 15, 2022. This historic event marked Ethereum's transition from a proof-of-work mining system to a more energy-efficient proof-of-stake model, further solidifying its commitment to sustainability.
Goodbye to Goerli
With the introduction of Holesky, Ethereum plans to bid farewell to the Goerli testnet in the first half of 2024. Holesky is set to become Ethereum's largest testnet, boasting at least 1.4 million validators, surpassing the mainnet's 700,000. This shift reflects Ethereum's continuous growth and development.
Abundant Test Network Ether
One standout feature of Holesky is its provision of approximately 1.6 billion test network ether (ETH). Unlike other testnets that align their supply with the mainnet's 120 million ETH, Holesky maintains this substantial supply. This decision aims to ease the challenges faced by developers when acquiring testnet ETH, facilitating seamless testing of smart contracts on the Holesky network.
Market Impact and Price Stability
Despite the launch of Holesky and Ethereum's ongoing developments, the price of Ether (ETH), the second-largest cryptocurrency by market capitalization, remained relatively stable. ETH was trading just above $1,636, with a minor decrease of less than a percentage point in the past 24 hours. This stability contrasts with Bitcoin's similar price movement during the same timeframe.
In Summary
Ethereum's Holesky testnet represents a significant stride in the platform's journey, offering expanded testing capabilities, celebrating the transition to proof-of-stake, and providing developers with ample resources to innovate and refine their projects. As Ethereum continues to evolve and adapt, it remains at the forefront of blockchain technology, setting the standard for a sustainable and versatile blockchain ecosystem.
#Ethereum #Holesky #POS #Testnet #ETH $ETH
Emergence of Holesky
Ethereum core developers introduced the Holesky test network on September 15, providing developers with an expanded environment for testing applications and addressing bugs without impacting the mainnet. This development marks a significant step in Ethereum's evolution.
Ethereum Merge Anniversary
The launch of Holesky coincides with the first anniversary of the Ethereum Merge event, which took place on September 15, 2022. This historic event marked Ethereum's transition from a proof-of-work mining system to a more energy-efficient proof-of-stake model, further solidifying its commitment to sustainability.
Goodbye to Goerli
With the introduction of Holesky, Ethereum plans to bid farewell to the Goerli testnet in the first half of 2024. Holesky is set to become Ethereum's largest testnet, boasting at least 1.4 million validators, surpassing the mainnet's 700,000. This shift reflects Ethereum's continuous growth and development.
Abundant Test Network Ether
One standout feature of Holesky is its provision of approximately 1.6 billion test network ether (ETH). Unlike other testnets that align their supply with the mainnet's 120 million ETH, Holesky maintains this substantial supply. This decision aims to ease the challenges faced by developers when acquiring testnet ETH, facilitating seamless testing of smart contracts on the Holesky network.
Market Impact and Price Stability
Despite the launch of Holesky and Ethereum's ongoing developments, the price of Ether (ETH), the second-largest cryptocurrency by market capitalization, remained relatively stable. ETH was trading just above $1,636, with a minor decrease of less than a percentage point in the past 24 hours. This stability contrasts with Bitcoin's similar price movement during the same timeframe.
In Summary
Ethereum's Holesky testnet represents a significant stride in the platform's journey, offering expanded testing capabilities, celebrating the transition to proof-of-stake, and providing developers with ample resources to innovate and refine their projects. As Ethereum continues to evolve and adapt, it remains at the forefront of blockchain technology, setting the standard for a sustainable and versatile blockchain ecosystem.
#Ethereum #Holesky #POS #Testnet #ETH $ETH
📰 @ethereum announces to release its new testnet #Holesky to replace #Goerli .
The goal with Holesky will be to support at least 1.4M validators, more than currently operate Ethereum’s mainnet (700K) and Goerli (512K) combined.$ETH
👉https://www.coindesk.com/tech/2023/09/13/hello-holesky-ethereums-newest-testnet/
The goal with Holesky will be to support at least 1.4M validators, more than currently operate Ethereum’s mainnet (700K) and Goerli (512K) combined.$ETH
👉https://www.coindesk.com/tech/2023/09/13/hello-holesky-ethereums-newest-testnet/
The #Ethereum team has delayed the launch of the #Holesky #testnet and scheduled a new attempt in two weeks.
The initial launch date for the testnet, set for September 15th, coincided with the anniversary of The #Merge, a major upgrade that transitioned the blockchain to a #Proof-of-Stake consensus algorithm.
According to developer Paritosh Jianti, the failure occurred due to an incorrect configuration in the genesis file. Some validators manually made changes and managed to start the chain, but this was insufficient for finalizing the network.
"Apologies for the chaos! We will conduct additional checks and improve the documentation to ensure that such incidents do not recur," wrote Jianti. The new testnet is expected to replace Goerli, which has been operational since 2019. Support for Goerli will cease in early 2024, and Holesky is planned to run until 2028.
Holesky is designed to test staking solutions, evaluate infrastructure, and protocols. Sepolia will continue to be used for testing decentralized applications, smart contracts, and other Ethereum Virtual Machine-related functions.
One significant difference between Holesky and existing testnets will be the significantly larger number of validators, surpassing the main network's figures. Developers believe this will allow for testing solutions under more stringent conditions.
Another notable feature of Holesky is the circulation of 1.6 billion test ETH. In Goerli, there is a limit of 120 million goETH, equivalent to the market supply of the second-largest cryptocurrency. This limitation has occasionally posed issues, increasing the cost of testing applications.
"It is possible to revive the network through a fix, but we decided that it's probably cleaner to start over, given that this will be a new testnet for many years," commented Jianti for CoinDesk.
Holesky is intended to play a crucial role in the planned Ethereum hard fork called Dencun (Cancun-Deneb). According to the developer, the delay in launching the testnet will not affect the update timeline.$ETH
The initial launch date for the testnet, set for September 15th, coincided with the anniversary of The #Merge, a major upgrade that transitioned the blockchain to a #Proof-of-Stake consensus algorithm.
According to developer Paritosh Jianti, the failure occurred due to an incorrect configuration in the genesis file. Some validators manually made changes and managed to start the chain, but this was insufficient for finalizing the network.
"Apologies for the chaos! We will conduct additional checks and improve the documentation to ensure that such incidents do not recur," wrote Jianti. The new testnet is expected to replace Goerli, which has been operational since 2019. Support for Goerli will cease in early 2024, and Holesky is planned to run until 2028.
Holesky is designed to test staking solutions, evaluate infrastructure, and protocols. Sepolia will continue to be used for testing decentralized applications, smart contracts, and other Ethereum Virtual Machine-related functions.
One significant difference between Holesky and existing testnets will be the significantly larger number of validators, surpassing the main network's figures. Developers believe this will allow for testing solutions under more stringent conditions.
Another notable feature of Holesky is the circulation of 1.6 billion test ETH. In Goerli, there is a limit of 120 million goETH, equivalent to the market supply of the second-largest cryptocurrency. This limitation has occasionally posed issues, increasing the cost of testing applications.
"It is possible to revive the network through a fix, but we decided that it's probably cleaner to start over, given that this will be a new testnet for many years," commented Jianti for CoinDesk.
Holesky is intended to play a crucial role in the planned Ethereum hard fork called Dencun (Cancun-Deneb). According to the developer, the delay in launching the testnet will not affect the update timeline.$ETH
EigenLayer reveals its mainnet final roadmap.
Re-staking protocol on #Ethereum #EigenLayer, disclose a roadmap detailing plans to launch its mainnet. The project's ramp-up to the mainnet includes launching its final testnet on Ethereum's #Holesky testnet, set to be operational shortly. In a stage 2 testnet on #Goerli, 6000 operators tested the network. Now, due to Goerli no longer being actively supported by the Ethereum client teams, the final EigenLayer testnet is transitioning to Holesky.
👉 theblock.co/post/282540/eigenlayer-teases-mainnets-final-roadmap-before-launch
Re-staking protocol on #Ethereum #EigenLayer, disclose a roadmap detailing plans to launch its mainnet. The project's ramp-up to the mainnet includes launching its final testnet on Ethereum's #Holesky testnet, set to be operational shortly. In a stage 2 testnet on #Goerli, 6000 operators tested the network. Now, due to Goerli no longer being actively supported by the Ethereum client teams, the final EigenLayer testnet is transitioning to Holesky.
👉 theblock.co/post/282540/eigenlayer-teases-mainnets-final-roadmap-before-launch
