Ethereum (ETH) 2.0 Brand-New Witti Testnet Launched. Last One Before Beacon Chain?

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Wed, 05/27/2020 - 14:31
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Vladislav Sopov
Shortly after Schlesi, the first multi-client testnet for Ethereum (ETH) 2.0, forked, its successor Witti started on-boarding testnet validators
Ethereum (ETH) 2.0 Brand-New Witti Testnet Launched. Last One Before Beacon Chain?
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Afri Schoedon, a seasoned Ethereum (ETH) ecosystem contributor and evangelist of its Goerli testnet, has announced that Ethereum (ETH) 2.0 testing progress has entered its v.0.11.3 stage with the Witti testnet.

Welcome to Witti

Mr. Schoedon broadcasted the process of the new ETH2 multi-client testnet launch in his Twitch. The new testnet is named Witty.

The main testnet GitHub repository, which is located in the Goerli directory, indicates that Witty has on-boarded three clients so far. They are Lighthouse, Prysm and Teku. The connection and synchronization of Nimbus and Lodestar is in progress. 

Also, Cortex and Trinity are on the waiting list. Developers have informed that the Schlesi testnet is closed due to multiple consensus issues and will no longer be maintained. 

However, it will be kept around for debugging purposes.

Transparency from day one

The new testnet is already being indexed by the Beacon Chain explorer. It has 83 validators onboard and 2,624 ETH staked in total.

Members of the Ethereum (ETH) community welcomed the new release and highlighted that it is one more step towards the launch of Beacon Chain, the initial stage of the long-awaited Ethereum (ETH) 2.0.

As we recently reported, Ethereum (ETH) 2.0 will likely be rolled out by the end of 2020

Referring to the accelerated boost in Ethereum (ETH) 2.0 progress, EF co-founder Vitalik Buterin highlighted that it is the result of multiple years of unseen hard work.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)