Launch rehearsal for Ethereum 2.0 ‘90% successful’ despite participation issues
Participation is low once again, but it doesn't seem to matter. The latest in a series of Ethereum 2.0 testnets, called Spadina, launched on Tuesday with mixed success.Spadina was proposed as a short-lived “dress rehearsal” for the mainnet launch process, signaling that Ethereum 2.0 Phase 0 is getting ever closer. The network launched on Sept. 29 at 12 P.M. UTC, and was intended to last for only 72 hours.Developers said that this is likely to be the last chance for prospective Ether (ETH) stakers to test the deposit and launch tools before the Phase 0 genesis.From that perspective, the....
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No participation issues this time as much fewer bugs are reported. Ethereum successfully launched yet another dress-rehearsal testnet for the upcoming Ethereum 2.0 Phase 0, dubbed Zinken.The launch occurred on Monday at 12 P.M. UTC and unlike previous attempts, was a smooth launch with enough participation and no major bugs.The testnet was organized following the bittersweet launch of Spadina, the first rehearsal that aimed to test the launchpad for stakers.As Cointelegraph reported at the time, the Spadina testnet suffered from low participation rates, which meant that a lot of validators....
The first day of December is likely to be the launch date. Ethereum 2.0 Phase 0 has now been formalized for launch at some time around Dec. 1. The deposit contract is live and can collect the necessary funds to trigger staking.An update by the Ethereum Foundation released on Wednesday explains how the genesis process is expected to happen.Prospective stakers will now be able to deposit their 32 Ether (ETH) deposits to the contract via the dedicated launchpad and get ready for the launch.The contract must collect 16384 deposits of 32 ETH each, a total of 524,288 ETH or about $200 million,....
Following the Spadina testnet failure at the end of September, the Ethereum 2.0 Phase 0 rollout looked in serious jeopardy. Billed as a dress rehearsal for ETH 2.0 genesis, core developer Danny Ryan reported several issues with the Spadina run. The most pressing problem was the long wait times for transactions to become irreversible. Ryan […]
Ethereum never ceases to surprise the cryptocurrency community. The digital currency platform has yesterday announced the launch of DAO. Now, what is DAO? DAO stands for Decentralized Autonomous Organization, which offers most of the benefits of a company without the centralization part. In this context, the DAO in the discussion is created by the Ethereum foundation for the governance of the Ethereum Protocol. Unlike companies, DAO involves community participation. It is not just the directors who are calling shots here, but the whole community, owning DAO tokens can introduce proposals,....
Ethereum 2.0 is finally taking form after the beacon chain launch, so how has it affected the DeFi and Dapp ecosystems so far? The end of 2020 has been huge for the crypto community. Not only was there a spectacular price surge across digital assets, possibly signaling the beginning of another bull market, but there was also the launch of Ethereum 2.0 beacon chain, which has been in development for some time.The long-awaited update to the Ethereum blockchain transforms the network from a proof-of-work to a proof-of-stake consensus model and is intended to improve speed, security, lower....