By Ifaenyi Egede (Nigeria)
The test net for ETH enjoyed a stellar welcome by members of the crypto community after it recorded a massive 20,000 validators two days after the platform was launched. This development was as a result of the success that was achieved after the Genesis block was effectively mined, triggering much-anticipated interest in the network. This new achievement has been said to be the next game-changer in the crypto with the ethereum 2.0 community backing it to succeed. This innovation is called Ethereum Topaz and was developed by Prismatic Labs, a team of blockchain engineers aiming to take the crypto world to the next level.
This new development will automatically replace the previous test network known as Sapphire and is a new and improved movement in the right direction, according to the developers. The system would now use a proof of stake concept after the developers chose to eliminate the proof of work concept. As a result of this new change, miners will now enjoy an efficient system rather than using a validation system through complex mathematical computation.
With the success of the ETH net, the mainnet is not scheduled to enter into this platform up until July this year. After the introduction of the Etherium mainnet, changes would be made to the platform which would come in stages. Vitalik Buterin, the co-founder of the platform, announced the new development via his Twitter handle while also adding that this new development would be a massive game-changer that other blockchain outfits can emulate. Vitalik was quoted as saying that “Note that this is likely not quite yet “THE Multiclient Testnet™,” as we are likely going to do one or two restarts soon to have more chances to test the genesis mechanism. But still, enormous progress and excellent work by Prysmatic Labs”.
Also read:With the widespread acceptance, it has enjoyed, and with the current volatility in the crypto market, analysts have urged investors and traders to exercise patience before jumping into the platform. With the new development passing a framework and codebase test that was carried out by Least Authority, the design has been approved by the firm, but they emphasized that the platform was open to some attacks that the developers need to address swiftly. We will see the changes that would be introduced into the platform as the day goes by with the current price of ethereum at $181 and it’s market capitalization seen on CoinMarketCap as $20 billion.
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