Ethereum 2.0 Testnet Successfully Crosses 20,000 Validators In Two Days, ETH Price Can Shoot

27. Apr 2020 Posted by Akolkar B on News

It can be a great time for Ethereum investors going ahead as the Ethereum developers have attained a major breakthrough in the progress with Ethereum 2.0. Earlier on April 18, the Ethereum developers launched the Ethereum 2.0 Topaz testnet.

However, just in two days of the launch, the testnet has successfully reached 20,000 validators soon after the genesis block (first block) was mined and validated.

Prysmatic Labs launched the Ethereum 2.0 Topaz testnet replacing the previous Sapphire test network. Prysmatic Labs has got its own engineering team that works on the Ethereum 2.0’s technical infrastructure.

The Topaz testnet is basically the Phase 0 in the Proof-of-Stake (PoS) implementation of the Ethereum 2.0. The testnet is basically a testing network which allows developers to experiment without destroying the actual network.

For huge blockchain networks like Ethereum, the changeover is a complex process and needs to be done carefully. Thus, before moving ahead with any actual changeover, a testnet is usually developed and run successfully.

The Ethereum 2.0 network aims at reducing the computation complexity due to the current Proof-of-Work consensus mechanism. Besides, by moving to Proof-of-Stake it aims at reducing the miner control over the network i.e. a step moving towards further decentralization.

Praising Prysmatic Labs for attaining this milestone, Ethereum co-founder Vitalik Buterin said: “Note that this is likely not quite yet "THE Multiclient Testnet™", as we are likely going to do one or two restarts soon to have more chances to test the genesis mechanism. But still, huge progress and excellent work by @prylabs".

Earlier, the tentative launch for the Ethereum 2.0 mainnet was scheduled for launch in July 2020. The complete roll-out for Ethereum 2.0 shall happen in six different phases.

Well, several analysts are expecting that the launch of Ethereum 2.0 will be a big boost for the platform users and investors. Ethereum 2.0 will have a much higher capacity for transactions per second (TPS) .

Analysts are expecting a good run up ahead for the ETH price and we can see it gaining back its lost glory.