Ethereum Fees Forward With New ‘Onyx’ Testnet Launch

Blockchain agency Prysmatic Labs introduced the launch of a brand new take a look at community for the Ethereum blockchain.

In line with a Wednesday announcement, Prysmatic Labs is launching the Onyx Ethereum testnet — which represents an enchancment over the earlier Topaz testnet.

The final step earlier than launching mainnet

Per the announcement, the Onyx testnet is the final replace earlier than the launch of the primary Ethereum mainnet. Moreover, this community will help a number of consumer software program distributions.

Onyx improves the community message dealing with and complies with the most recent Ethereum specs. Prysmatic Labs additionally introduced that it’s going to quickly flip off its Topaz validator nodes and begin sending deposits to provoke staking on the Onyx community.

Ethereum staking is an upcoming Ethereum function that may permit Ether (ETH) holders to run nodes that confirm new blocks on the network in trade for rewards, just like mining. Operating such nodes requires the consumer to carry a sure minimal quantity of cash. If the node tries to misbehave, their holdings are slashed.

The long-awaited launch of Ethereum approaches

This newest replace strikes the Ethereum neighborhood one step nearer to the launch of the highly-anticipated Ethereum community, which many hope will clear up the blockchain’s scalability limitations.

Nonetheless, many worry that the Ethereum 2.0 launch will be delayed again. Could stories recommend that the discharge of the community’s proof-of-stake algorithm was rescheduled for the current month. Beforehand, some urged that the discharge of this algorithm may have triggered an Ether price rally.

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