Wednesday, June 12, 2024

Ethereum to End Testnet that Brought About Transition to Proof-of-Stake.

Ethereum is set to windup the testnet, the Ropsten network, that saw its journey of transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS). It is also expanding to a wider user base. But these could neutralize the impact on the Ethereum price which is looking for a swift recovery.

Ethereum will shut down the vast majority of remaining active validator nodes by December 15-30. As such, Ropsten will officially no longer be supported by clients or testing teams. Moreover, the Rinkeby test net would also be shut down in mid-2023. Users and developers have some time to migrate their applications to either the Goerli or the Sepolia testnets. The Ethereum community has been inclined to purpose-specific testnets; Ethereum Improvement Proposals (EIPs) upgrades are deployed to check for bugs.

But this doesn’t suggest reduced interest or demand for Ethereum. In fact, there is growing interest and usage too. This is evident through Solana-based crypto wallet Phantom’s expansion to Ethereum. It is also vying for Polygon. Brandon Millman, the CEO of Phantom, said they really do have what it takes in terms of just being able to taste that amount of scale and understand what they need and require to run a wallet from an operational perspective.

Meanwhile, Ether is at the cusp of an upswing. But it needs to breach some crucial resistances to make a breakthrough. At the time of writing this article, the second biggest cryptocurrency was trading at $1,282. It has gained 6.66% in the last seven days.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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