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Ethereum 2.0 Testnet set to launch in the coming weeks

Jamie Green – Crypto Expert

The stage has been set for the complete testing for Ethereum’s next phase upgrade, Ethereum 2.0, a protocol development long anticipated by the community. The open-source public testnet will enable the Ethereum ETH network to expand and scale towards accommodating Decentralized Finance (DeFi) use cases. The developers previously said in a statement that the testnets must run for a minimum period of three months, meaning that we might be seeing the mainnet as early as the 4th of November.

The testnet will be supporting the multiple participants of the Ethereum (ETH) network and the different ways of maintaining and securing the blockchain for cryptocurrency trading. According to Danny Ryan, the platform’s launch coordinator, the testnet’s roadmap will be met providing the right conditions are in place.

This news was shared during executive discussions with client teams on Discord. Ryan also added that there would be a new feature referred to as the “Launchpad.” This is aimed at ‘hobbyists’ as an educational and testing interface. Further details are still to be released in the coming days.

The Ethereum 2.0 testing is well underway as more investors look to buy Ethereum (ETH). Phase 0 of the upgrade was initiated in mid-April, with network participants able to trial small deposits of the Ethereum cryptocurrency (ETH). The months of May and June introduced two new live testnets. In a report by developers, the testnets have been stable and have received over 20,000 network validators by late June.

With more users buying crypto and entering the network, the arrival of the long-anticipated upgrade cannot come soon enough. Ethereum (ETH) has been reaching its technical limitations as the popularity of De-Fi projects have skyrocketed in recent months. This has led to a new all-time high of activity on the network and the number of transactions. Taking this into consideration, it is unsurprising that Ethereum’s (ETH) gas fees have increased as the ecosystem is dangerously close to its functioning capacity.

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