{"id":15427,"date":"2021-12-21T06:27:32","date_gmt":"2021-12-21T05:27:32","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=15427"},"modified":"2021-12-21T06:27:41","modified_gmt":"2021-12-21T05:27:41","slug":"ethereum-2-0-testnet-kintsugi-is-now-live","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ethereum-2-0-testnet-kintsugi-is-now-live\/","title":{"rendered":"Ethereum 2.0 Testnet Kintsugi is now live"},"content":{"rendered":"\n
Kintsugi is a public testnet that allows users to try out Ethereum 2.0 <\/a>before the switch to proof-of-stake.<\/h5>\n\n\n\n
\"Ethereum
Ethereum 2.0 Testnet Kintsugi is now live<\/figcaption><\/figure>\n\n\n\n

Ethereum 2.0 first major testnet<\/h2>\n\n\n\n

Ethereum 2.0\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the proof-of-stake platform designed to make blockchain transactions faster, cheaper, and less energy-intensive, has been in the works for quite some time.<\/p>\n\n\n\n

While ETH2<\/a> isn't quite ready yet, its first major testnet is, giving the public a glimpse into how the network might work in the future.<\/p>\n\n\n\n

The Kintsugi testnet<\/use><\/svg><\/span><\/a> was announced today on the Ethereum Foundation blog by Tim Beiko, who coordinates the Ethereum core developers. <\/p>\n\n\n\n

Kintsugi is a Japanese word that refers to the use of gold to repair broken objects without attempting to conceal the damage; the word evokes a sense of openness about the history of something.<\/p>\n\n\n\n

Over the past few months, client teams have been working tirelessly to implement a new set of merge milestones. They are now live on a new testnet: Kintsugi \ud83c\udf75!<\/p>

Here's how you can join the testnet and help with testing:\u00a0https:\/\/t.co\/ARDezguzXE<\/use><\/svg><\/span><\/a>\u00a0\ud83d\udc40<\/p>

Christmas came early\ud83c\udf84!<\/p>

\u2014 Tim Beiko | timbeiko.eth \ud83c\udf75 (@TimBeiko)\u00a0December 20, 2021<\/use><\/svg><\/span><\/a><\/p><\/blockquote>\n\n\n\n

While the Ethereum network isn't broken in its current state, it is a victim of its own success. Network transaction costs are scaring away some users after pioneering decentralized finance applications, NFTs, and even blockchain-based games. <\/p>\n\n\n\n

People must pay higher fees or wait until there is less activity on the blockchain to swap assets on a peer-to-peer basis or bid on digital collectibles on-chain. To push transactions through relatively quickly, people must pay higher fees or wait until there is less activity on the blockchain.<\/p>\n\n\n\n

This is addressed in Ethereum 2.0. It converts the network from a proof-of-work system like Bitcoin's, in which “miners” validate transactions, to a proof-of-stake system, in which users can secure the network by staking some of their ETH in the protocol. <\/p>\n\n\n\n

While both miners and stakers are rewarded, Ethereum's proof-of-stake system also expands the network's capacity.<\/p>\n\n\n\n

Ethereum 2.0 has already been made progress by developers<\/h2>\n\n\n\n

The Beacon Chain<\/use><\/svg><\/span><\/a>, which will eventually be used to bridge the current network to the new one, was launched in December as Phase 0 of the upgrade. And the new network has already attracted<\/use><\/svg><\/span><\/a> billions of dollars in ETH.<\/p>\n\n\n\n

Developers have introduced four short-lived testnets<\/use><\/svg><\/span><\/a> to simulate how the network will work once it switches to proof of stake in preparation for the merge. Kintsugi, on the other hand, is here to stay, and it's designed to be used by everyone, not just developers.<\/p>\n\n\n\n

“Although client development and UX are still being developed,” Beiko stated, “We encourage the community to begin utilizing Kintsugi to familiarize themselves with Ethereum in a post-merge context.”<\/p>\n\n\n\n

Most people are hopeful that things will be in good enough form for “#testingthemerge” to be a rapid process, and that other testnets, such as G\u00f6rli and Rinkeby, will be able to replicate the transfer.<\/p>\n\n\n\n

“Next up is Ethereum mainnet's move to proof of stake,” Beiko added, “after these have been improved and are reliable.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Kintsugi is a public testnet that allows users to try out Ethereum 2.0 before the switch to proof-of-stake. Ethereum 2.0 first major testnet Ethereum 2.0 , the proof-of-stake platform designed to make blockchain transactions faster, cheaper, and less energy-intensive, has been in the works for quite some time. While ETH2 isn’t quite ready yet, its […]<\/p>\n","protected":false},"author":29,"featured_media":15431,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6105,6107,6106],"class_list":["post-15427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ethereum-2-0","tag-kintsugi","tag-testnet-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/Ethereum-2.0-Testnet-Kintsugi-is-now-live.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=15427"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/15431"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=15427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=15427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=15427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}