Ethereum testnet Beacon Chain goes live and is ready for trial merge

Source: www.forbes.com

The Sepolia testnet Beacon has been launched, creating the stage for its merge dress rehearsal to provide Ethereum blockchain network developers with valuable technical insights.

Once merged with its dedicated Beacon chain, the Sepolia testnet will rely on proof-of-stake (POS) rather than proof-of-work (POW) to reach consensus, which will shed light on what may happen once the Ethereum network finally performs the merge.

Source: Twitter.com

However, Ethereum has not announced the exact date of the Sepolia merge.

Testnet merges are very important for both Ethereum blockchain developers and independent project developers using the Ethereum network to know what will happen when the merge finally happens. Just like with the testnets, the merge on the Ethereum mainnet will see the whole Ethereum blockchain network shift to the PoS consensus. POW, which is currently used in Ethereum and Bitcoin mining, is very energy-intensive and emits poisonous gases to the environment. PoS is less energy-intensive and is expected to reduce the energy consumption of Ethereum by about 99.9%.

Sepolia was created in October 2021. Tim Beiko, a core Ethereum developer stated in April that the Ropsten testnet will be phased out with time and be replaced with Sepolia. Projects with apps running on Ropsten have been asked to shift their work to Sepolia to avoid issues.

Public testnets such as Ropsten and Sepolia are meant to replicate the operating conditions of their respective mainnets without any effect on the live mainnet. Ropsten was launched in 2016, making it the longest-lasting testnet. Its merge was done in June 2018, and it was the first instance of a merge trial to be conducted for Ethereum.

The merge on the Ethereum mainnet has been pushed back severally. This event is expected to be completed by August 2022, but the date may be delayed further as a result of a separate delay in the difficulty bomb. After its completion, it will make the consensus layer, formerly called Ethereum 2.0.

The difficulty bomb feature of the Ethereum network will disincentivize ETH miners using physical devices by making it difficult to produce a new block.

Other Crypto News

On Wednesday, Ethereum was trading above the $1,000 mark for most of the day. At the time of writing, the Ethereum cryptocurrency was trading at about $1,073 on Coinbase, Binance, and CoinMarketCap. The Ethereum price has dropped by about 8.42% in the past 24 hours.

Source: CoinMarketCap

In some of the latest Bitcoin news, the largest cryptocurrency in the world by market cap spent most of the day above the $20,000 mark, crossing the mark downwards on some occasions. This is according to data obtained from CoinMarketCap. At the time of writing, the Bitcoin price was about $20,166 on Coinbase, Binance, and Coin Market Cap. The following BTC to USD chart shows the changes in the BTC price in the last 24 hours.

Source: CoinMarketCap

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