Ethereum’s The amount of coins in the ETH 2.0 address he created for the Proof of Stake (PoS) mechanism exceeded 10 million ETH, leaving behind an important milestone.
However, this milestone has been crossed with little time left for Ethereum’s last testnet before it moves to the Proof of Stake mechanism.
Cryptocurrency Amount At Ethereum 2.0 Deposit Address Exceeds 10 Million ETH
On March 10, the Ethereum community celebrates breaking a milestone in the amount of coins staked for the Proof of Stake mechanism.
The first deposit address for the new ETH mechanism has exceeded 10 million Ether tokens in balance.
The total value of the coins in the address is around $26 billion.
👨🏻💻 pic.twitter.com/SjLXew20Cy
— rliriano❤️🇺🇦 (@rliriano) March 10, 2022
However, the world’s second largest cryptocurrency A significant part of the amount in circulation is also locked in this contract.
This Ethereum 2.0 deposit address was launched on November 23, 2020 to serve as the basis for the implementation of the new Proof of Stake mechanism.
Kiln, ETH’s Latest Testnet, Comes to Life
Right after the 10 million token threshold was passed, ETH developers also seem to have accelerated the tests of the new PoS system.
ETH developer Marius van der Wijden announced the launch of the Kiln network, the final testnet before the transition to the PoS system.
According to the developer, once this test is complete, ETH developers will start to combine testnets such as Ropsten, Rinkeby and Goerli.
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
However, van der Wijden urged the entire ETH community to try the opportunities the new testnet provides.