By
Temitope Olatunji
April 18th, 2024
The progress made with the Ethereum 2.0 testnet Zinkel, Medalla as well as others, gives a renewed hope of the migration of the network before the end of this year.
The proposed 2020 launch of Ethereum 2.0 just got a pat in the back following the successful launch of the Zinkel testnet. Per reports from Cointelegraph, the Ethereum 2.0 Zinkel testnet is the network’s first trial that beat expectations as it gave the expected results within minutes of launch.
With months of work put into the development and perfection of the Ethereum 2.0, the journey has been filled with the launch of different testnets all necessary to perfect the launch of the Ethereum 2.0 phase 0 which will signal the network’s move to proof of stake mechanism.
The need to move the ethereum network from its current proof of work network to the proof of stake network is based on the scalability issues the network is currently facing amidst the growing number of decentralized applications. From the network’s current 15 transactions per second, the move to Ethereum 2.0 will scale to transaction rate per second to about 100,000.
The Ethereum 2.0 Zinkel testnet which was launched at 12 PM UTC as reported saw a tremendous amount of participation with relatively no much bugs detected. As noted, the participation for any testnet as the developers earlier opined should have at least a 66% of the total stakes used in confirming blocks in order for the blockchain to be considered finalized.
Danny Ryan, the leading developer overseeing the entire ethereum migration to proof of stake acknowledged that the Ethereum 2.0 Zinkel testnet turned out impressive as its genesis went as expected.
Ethereum 2.0 Zinkel: Correction of the Failed Spadina Testnet
The ethereum foundation initially launched the Spadina testnet to serve the same purpose as the current Zinkel testnet served, which is to test the start of the genesis chain for the migrated network. As Coinspeaker.com reported back on September 30, the Spadina testnet failed as there were accounts that the enrolled validators were unable to launch their clients.
The glitch experienced with the Spadina testnet was later attributed to the influence of bugs which the Zinkel testnet has successfully corrected. The network also has a series of testnets in place particularly the Medalla testnet. The Medalla testnet as of today currently has over 60,000 validators with the total amount of Ethereum coins tested surpassing $2 million.
The progress made with the Zinkel, the Medalla as well as the other testnets, has given a renewed hope of actually keeping to the long-anticipated migration of the network before the end of this year. While Danny Ryan clearly noted that few more perfections may be implemented, the bulk of further testing now is reportedly left for the network’s developers.
With the incessant delay in the launch of Ethereum 2.0, the network has been predisposed to further competition from the likes of the Tron Network who seeks to lure DeFi projects. Should the ethereum migration take place as expected anytime from now, the increased scalability will reposition the network as the premium foundation for decentralized finance innovations.