Ethereum is on the verge of launching its ETH2.0 testnet in the first week of August and ETH developers are showing great progress for this.
The co-founder of Ethereum Vitalik Buterin has shared an update on Ethereum blockchain mergers and says that Ethereum developers are already working on ETH 1.0 to ETH 2.0 mergers. The co-founder shared the tweet of Danny Ryan the lead developer of the project.
Work on "the eth1 -> eth2 merge" is already happening. https://t.co/TfErDqcc9B
— vitalik.eth (@VitalikButerin) July 23, 2020
As per the screenshot shared by Danny Ryan in the tweet, Ethereum has planned on using ETH 1.0 prototype version as a shard into the ETH 2.0 consensus. The lead developer said, “The current vision of the future of Ethereum is for the current chain to be integrated into the new eth2 consensus as a shard.”
Medalla set to go live on Aug 4
Beacon Chain’s next ETH testnet known as Medalla is now in final stages and according to Danny Ryan, it is set to go live in the first week of the next month on Aug 4. Confirming the launch date of Medalla in a blog post, Ryan said that Medalla has not been developed for developers rather it has been built for the Ethereum community, unlike the previous ones which were only meant for developers. Adding more to it, Ryan stated:
This is a major step up from Altona in the sense that Medalla is a testnet built for and maintained by the community. The multi-client testnets prior to Medalla were considered “devnets”, run primarily by client teams and members of the Ethereum Foundation,
As the final ETH 2.0 testnet launch draws nearer, the price value of Ethereum has also entered into the bullish zone after trading into a consolidation phase for about two months. The second-ranked digital currency recently posted a potential rally of 13% which led the coin to break above $270. Now, the ETH price aims to achieve the $300 figure to make new yearly highs.