Holesky Testnet Takes Flight On Merge Anniversary Amidst Ethereum 30-Day Slump


15 Sep 2023 8:00 PM

One year has passed since the Ethereum Merge, which marked the integration of Ethereum's PoS Beacon Chain with the Ethereum Mainnet. ...

  • The Ethereum Merge, which integrated Ethereum's proof-of-stake Beacon Chain with the Ethereum Mainnet, marked the transition to Ethereum 2.0 and resulted in a significant reduction in energy consumption.
  • The merge did not impact Ether tokens held by investors or the operations of Ethereum-based applications.
  • Ethereum introduced a new testnet called Holesky, which aims to enhance the testing environment on Ethereum and replace the previous testnet, Goerli, for staking, infrastructure, and protocol development.
  • Holesky serves as Ethereum's merged-from-genesis public testnet and mirrors mainnet functionalities.
  • Ethereum has burned 980,000 ETH tokens since the merge, reducing the total supply and potentially increasing scarcity and value.
  • The Ethereum 2.0 network has seen 11.6 million ETH being staked, and the addition of 362,000 new validators has strengthened the network.
  • The price of ETH has experienced volatility and currently trades at $1,619.

Overall, the sentiment in the article is positive, highlighting the successful transition to Ethereum 2.0, the reduction in energy consumption, the introduction of the Holesky testnet, and the achievements of Ethereum in terms of burning tokens and staking.

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