The Ethereum network is moving from a proof of work to a Beacon chain – a proof of stake also known as the Consensus layer.
It’s time to get #TestingTheMerge going again! We spun up the Kiln
testnet to test #Ethereum‘s upcoming move to proof-of-stake (this should be the final testnet before we start merging Ropsten, Rinkeby, Goerli, etc).
This thread explains how *YOU* can get involved.
pic.twitter.com/XthSZN8L2e
— MariusVanDerWijden (@vdWijden) March 10, 2022
Ethereum developer tell toUsers say the network is now entering the final testing phase. It urged stakeholders in the network to conduct tests using Kiln “to ensure a smooth transition to the public test network.”
“We strongly recommend developers to fully test on Kiln. and report any issues to those project administrators.”
Ethereum developer Tim Beiko has confirmed that Kiln is live. And it will soon be ready to integrate with the Beacon Chain, according to a March 14 tweet, with the test network launched late last week in mode. proof-of-work only
Kiln, the next iteration of Ethereum merge testnets, is now live
Highly recommended that node operators, application developers, stakers, tooling/infra providers test their setups on the network. Blog post has all the info to get started
https://t.co/TCHBZxcFlt
— Tim Beiko | timbeiko.eth
(@TimBeiko) March 14, 2022
Kiln is now running in a test environment. Proof-of-work (PoW) for Ethereum developers, node operators and stakers. It is the final public test network before the entire network goes live. Proof-of-stake from this year’s PoW, with Kiln fully testing the merge this week.
Beiko says Ethereum developers want to “give the community an opportunity to test their products through the merge.”
Got the Kiln Testnet working perfectly, bring on the merge @superphiz @remy_roy thanks for the great tutorials. pic.twitter.com/jtOCaX2m8W
— Ethereum CLWP
EIP-4736 (@EthCLWP) March 14, 2022
Originally launched as a PoW testnet running parallel to the Beacon Chain, the transformation of Ethereum (ETH) from PoW to PoS would be a major step in the evolution of the network. This next phase of Ethereum will allow blockchain security to rely more on the tokens it stakes than the expensive and energy-intensive mining.
The PoW to PoS network transition event will connect the Beacon Chain to the Ethereum mainnet, with ‘The Merge’ happening in June. Although it is scheduled for Q1, 2022 according to official plans.
The 10 million ETH staked in the Beacon Chain is yielding approximately 4.8% annually for investors, after ‘The Merge’ the returns can grow up to 15% and the operating costs of the network are reduced. Only a fraction of PoW remains.
The post Ethereum launches Kiln Testnet – a milestone towards ‘The Merge’ appeared first on Bitcoin Addict.