The most anticipated development at the moment in the crypto industry is the official launch of the Ethereum Consensus Layer, formerly known as ETH 2.0. And considering the latest development, the community is now in the final stages of the significant upgrade.
Tim Beiko, an Ethereum core developer, has recently announced that Kiln, the next iteration of Ethereum merge testnets, is now live. In the report, node operators, App developers, stakers, and tooling/infra providers, are urged to test their setups on the network.
Read Also: European Union (EU) Parliament Votes against Ban on Bitcoin and Ethereum’s Proof-of-Work (PoW)
Tim Beiko tweeted, “Kiln, the next iteration of Ethereum merge testnets, is now live. Highly recommended that node operators, application developers, stakers, tooling/infra providers test their setups on the network.”
Kiln, the next iteration of Ethereum merge testnets, is now live 🔥🧱
Highly recommended that node operators, application developers, stakers, tooling/infra providers test their setups on the network. Blog post has all the info to get started 😁https://t.co/TCHBZxcFlt
— Tim Beiko | timbeiko.eth 🔥🧱 (@TimBeiko) March 14, 2022
In the report, Ethereum community members are told that a date for the mainnet transition of Ethereum proof-of-stake (PoS) has not been set. So, any source claiming otherwise is likely to be a scam and should be ignored.
The blog post captioned in the report reads as follows:
“Assuming no issues are found with Kiln, once clients have finalized the details of their implementations, the existing Ethereum testnets (Goerli, Ropsten, etc.) will run through The Merge. Once these have successfully transitioned and stabilized, again, assuming no issues are found, a difficulty value will be set for the mainnet transition. Only then will it be possible to estimate the exact date for The Merge.”
What “The Merge” Does to the Ethereum Network
The Merge removes miners from having any role to play on the Ethereum network. The major upgrade will make validation to be performed by stakers that deposit 32 ETH.
Read Also: Ethereum Fees See Massive Drop on Layer-2s as a Transaction Now Costs Less Than $0.1
Currently, about 309,000 validators have collectively staked over 10 million ETH in the Beacon Chain. Once the upgrade is fully implemented on the mainnet this year as expected, these validators will be the ones running the Ethereum network instead of miners.
The upgrade is projected to reduce Ethereum’s environmental impact by 99.9% and lower its inflammatory rate from about 4% a year to between 0.2% and 1% a year.
Follow us on Twitter, Facebook, Telegram, and Google News
