Ethereum (ETH), the second largest cryptocurrency by total market capitalization, has endured the recent declines relatively more compared to BTC. The reason why Ethereum is so durable and BTC is moving away from its axis may be its own adventure.
After the first steps towards the transition to Ethereum 2.0 last December, many new developments followed. After the EIP-1559 and London updates, the network is now on the agenda with the implementation of a testnet.
Ethereum Kintsugi Network Active
Ethereum’s dev teams are working hard to transition to Ethereum 2.0, the Proof-of-Stake focused network, and the result has just come.
Although ETH 2.0 is not ready yet, a testnet has been active to test the transition to it. Tim Beiko gave the good news that the Kintsugi testnet is now active in his post.
He also shared detailed information about the update in a blog post published on the Ethereum Foundation. Kintsugi is a Japanese word that means to repair a broken object using gold, implying that every repair after a breakage is actually worth gold. This represents the transition from ETH 1.0 to ETH 2.0.
Over the past few months, client teams have been working tirelessly to implement a new set of merge milestones. They are now live on a new testnet: Kintsugi 🍵!
Here’s how you can join the testnet and help with testing: https://t.co/ARDezguzXE 👀
Christmas came early🎄!
— Tim Beiko | timbeiko.eth 🍵 (@TimBeiko) December 20, 2021
The testnet in question, together with the Görli and Rinkeby testnets, will be used to make the transition to ETH 2.0 the smoothest, and the fact that it comes before the new year shows that everything is going well in ETH.
*Not Investment Advice.