1. BITBILIHome
  2. Article

Ethereum’s Goerli testnet to make way for new Holeky platform

• 66 views

TL;DR Breakdown

  • Ethereum’s Goerli testnet is set to be replaced by a new, more robust testnet called Holeky.
  • A configuration error thwarted initial plans to launch Holeky on September 15th.
  • Goerli’s limited goETH supply has challenged developers, affecting testing capabilities.

Description

The Ethereum community is gearing up for a significant transition. The Goerli testnet, a crucial tool for developers in testing validation and staking, is set to be replaced by a new testnet called Holeky. This move comes as the Ethereum Foundation aims to provide a more robust testing environment for its growing user base. Initially, … Read more

The Ethereum community is gearing up for a significant transition. The Goerli testnet, a crucial tool for developers in testing validation and staking, is set to be replaced by a new testnet called Holeky. This move comes as the Ethereum Foundation aims to provide a more robust testing environment for its growing user base.

Initially, Holeky was scheduled to launch on September 15th, marking the anniversary of Ethereum’s proof-of-stake merging. Unfortunately, a configuration error led to a failed first attempt, pushing the launch date further. Despite this setback, the community remains optimistic about Holeky’s potential to solve existing issues.

One of the most pressing challenges with Goerli has been its goETH supply difficulties. Developers rely on goETH, a token with no intrinsic value, to cover the “gas” or transaction costs while testing their protocols. The Goerli testnet has a tap where developers can obtain goETH, but the supply is capped at 115 million tokens. This limitation has led to some developers hoarding goETH in cold storage, reducing the available testing supply.

Holeky aims to address these supply issues by offering a larger environment for on-chain testing. According to Parithosh Jayanthi of the Ethereum Foundation, Holeky is designed to support three times as many users as the current Ethereum mainnet. Jayanthi emphasizes the need for many validators to test the boundaries of the beacon chain safely, Ethereum’s upcoming upgrade.

Shutting down older blockchain testnets has been around for a while; it’s a common technique to manage the expanding state and transaction history that makes it increasingly difficult to operate nodes. Holeky’s introduction is a strategic move to provide a more scalable and efficient testing ground for Ethereum’s growing ecosystem.

Transitioning from Goerli to Holeky is a calculated step toward enhancing Ethereum’s testing capabilities. While the initial launch faced hiccups, the community is eager to embrace Holeky’s promise of solving goETH supply issues and providing a more expansive testing environment. As Ethereum continues to evolve, the successful implementation of Holeky could mark a pivotal moment in its journey toward scalability and efficiency.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Ethereum’s Goerli testnet to make way for new Holeky platform

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月16日 04:06
Next 2023年9月16日 05:21

Related articles

  • Japan’s crypto sector urges changes in margin trading rules

    TL;DR Breakdown The Japan Virtual and Crypto Assets Exchange Association (JVCEA) is urging authorities to relax regulations on margin trading in crypto. JVCEA members want to increase leverage limits for retail investors to 10 times their principal to attract new market participants. Genki Oda, JVCEA Vice Chairman, believes these changes could make Japan more appealing to crypto and blockchain firms. Description As the title suggests, the landscape of digital finance in Japan might be shifting, with industry stakeholders calling for changes to the nation’s margin trading rules. The epicenter of these cries for change is the Japan Virtual and Crypto Assets Exchange Association (JVCEA). JVCEA is a self-governing entity within the crypto industry, and its members … Read more As the title suggests, the landscape of digital finance in Japan might be shifting, with industry stakeholders calling for changes to the nation’s margin trading rules. The epicenter of these cries for change is the Japan Virtual and Crypto Assets Exchange Association (JVCEA). JVCEA is a self-governing entity within the crypto industry, and its members have made their desires clear –…

    Article 2023年6月22日

  • U.S. House Committees present discussion draft to clarify regulatory framework for crypto assets

    TL;DR Breakdown U.S. House Financial Services and Agriculture Committees have released a discussion draft proposing a regulatory framework for the crypto industry. The draft bill aims to clarify by allowing certain digital assets to be classified as digital commodities. The legislation addresses concerns related to registration, custody, and the lack of clear rules in the crypto space. However, its progress in Congress remains uncertain without bipartisan support. Lawmakers from the United States House Financial Services Committee and House Agriculture Committee have taken a decisive step towards providing regulatory clarity in the cryptocurrency industry. To address longstanding concerns of regulatory ambiguity and the lack of clear rules, they have released a draft discussion offering a potential pathway for certain crypto assets to be classified as digital commodities. The proposed legislation aims to establish a functional framework that tackles the challenges faced by the industry. A framework for clarity The draft bill aims to prevent the U.S. Securities and Exchange Commission (SEC) from denying digital asset trading platforms the opportunity to register as regulated alternative trading systems. This regulatory move will enable…

    Article 2023年6月7日

  • ECB’s Schnabel sees worsened Eurozone growth outlook as inflation remains high

    TL;DR Breakdown ECB Executive Board member Isabel Schnabel has indicated that the Eurozone’s economic outlook is worse than initially projected in June.  The upcoming ECB meeting holds significant importance as recently released inflation data influences discussions. Description Isabel Schnabel, a member of the European Central Bank’s (ECB) Executive Board, has mentioned that the euro area’s economic outlook is worse than anticipated back in June. She also noted that underlying inflation continues to be persistently elevated. Underlining the difficulty that the present economic situation presents to policymakers, the individual responsible for overseeing markets … Read more Isabel Schnabel, a member of the European Central Bank’s (ECB) Executive Board, has mentioned that the euro area’s economic outlook is worse than anticipated back in June. She also noted that underlying inflation continues to be persistently elevated. Underlining the difficulty that the present economic situation presents to policymakers, the individual responsible for overseeing markets refrained from pledging any particular actions in September and remarked that it is currently uncertain whether borrowing expenses must be further increased. ECB’s high underlying inflation ensues Recent developments have…

    Article 2023年9月1日

  • Curve Finance Pledges Refunds Following $62 Million Hack

    TL;DR Breakdown Curve Finance suffered a $62 million loss due to vulnerabilities in its Vyper compiler’s release history, with several pools being affected. The hacker accepted a 10% bounty reward and initiated a partial refund, transferring funds to the Alchemix Finance developer wallet instead of directly to Curve Finance. Description In a recent turn of events, Curve Finance, a prominent Decentralized Finance (DeFi) stablecoin lending platform, has assured its users of a refund following a significant security breach. The hack, which took place on July 30, resulted in a staggering loss of $62 million from the protocol. As the DeFi community grapples with the aftermath, … Read more In a recent turn of events, Curve Finance, a prominent Decentralized Finance (DeFi) stablecoin lending platform, has assured its users of a refund following a significant security breach. The hack, which took place on July 30, resulted in a staggering loss of $62 million from the protocol. As the DeFi community grapples with the aftermath, Curve Finance has responded proactively, promising to make affected users whole. A Deep Dive into the Curve…

    Article 2023年8月12日

  • PayPal’s PYUSD stablecoin debuts on Venmo, expands crypto reach

    TL;DR Breakdown Venmo’s users can now send PYUSD to any compatible external wallet. Users should be aware that using blockchain networks for these transactions may involve additional costs. The New York State Department of Financial Services has approved PYUSD, adding a layer of credibility to the stablecoin. Description In a significant move, PayPal’s stablecoin, PYUSD, debuted on Venmo. Initially, a select group of users will have access to this feature. However, it will be available to the broader public in the coming weeks. This development allows Venmo users to purchase PYUSD using their balance. Moreover, they can transfer it to anyone with a … Read more In a significant move, PayPal’s stablecoin, PYUSD, debuted on Venmo. Initially, a select group of users will have access to this feature. However, it will be available to the broader public in the coming weeks. This development allows Venmo users to purchase PYUSD using their balance. Moreover, they can transfer it to anyone with a Venmo, PayPal, or a compatible external wallet. Additionally, Venmo users can now send funds to anyone possessing an external…

    Article 2023年9月21日
TOP