Leading altcoin Ethereum has announced a major upgrade to address long-standing ETH supply issues. The Ethereum core developer has announced that Ethereum will launch a new test-net called Holli (Holesovice) in September 2023. Meanwhile, Ethereum’s Shanghai upgrade will still begin in March, with users attempting to access staked Ethereum on the network.
Leading altcoin prepares for launch of a test-net called ‘Holli’
According to tweets from Ethereum core developer Tim Beiko, Ethereum is gearing up for the launch of a test-net called ‘Holli’. The test-net, also called Holesovice, is scheduled to launch on September 15, 2023. Tim Beiko explained that the conversation around Ethereum test-nets has reignited, and that it is correct to release information about it to the public, who either seem uninformed or completely educated. Beiko made the following statement in a series of tweets:
A new test-net, Holli, is scheduled to launch later this year, and hopefully we’ll be able to figure them out by then! I made two suggestions on the repo and would love to hear from the app layer developers how we can approach this better!
Their initial proposal was to add each new Ethereum address that implements a contract on the main-net, Goerli, and Sepolia to the Genesis file, giving it an allocation. Finally, it proposes coordination with leading contract and infrastructure developers to launch on the network immediately after creation.
As the developer explains, it’s useful for three specific groups, including test-nets, client developers, app developers, and node operators/stakers/miners. It’s important to keep in mind that all three have different needs. He added that legacy test-nets are unable to serve clients as they take more time and take up more space for synchronization. The Sepolia test-net was shut down from unauthorized validators while trying to circumvent Ethereum’s supply issue. Goerli test-net uses GoETH for Beacon Chain even though it is open to unauthorized validators.
Ethereum Shanghai upgrade still around the corner
Ethereum never stops as it embarks on a much-needed task of scaling and stabilizing the leading Blockchain network. cryptocoin.comAs you follow, the Ethereum Shanghai update is also one of the most notable events planned for the second half of this year. Last year, it was announced that the Ethereum Shanghai upgrade will begin in March 2023 and will bring a significant number of improvements to the Ethereum network.
Users of the Ethereum network participated in the verification of transactions on the Beacon Chain in December 2020, following the launch of the Proof-of-Stake (PoS) network. However, staking has been affected as users’ funds are put into a deposit contract while developers perform tasks on the Ethereum network. The Shanghai upgrade is significant for network users as it will allow the withdrawal of Ethereum staked on the Beacon Chain.
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