On April 18, the first block of the Ethereum 2.0 test network was first mined and validated. Today, the number of validators is already about 20,000.
On April 16, the Ethereum 2.0 Topaz test network was launched. Prysmatic Labs was working on Ethereum 2.0, which replaced a previous test version of the network called Sapphire.
What is Topaz for?
Topaz’s main idea is to test the PoS protocol (Phase 0) on Ethereum 2.0. Thanks to this protocol, users will have to give part of the funds for further verification of transactions. The reward will be part of the resulting fees. The configuration of the main network requires a minimum of 32 ETH to launch it.
The Least Authority was tasked with auditing the framework and codebase. The firm praised the performance of Ethereum 2.0, but noted some security flaws that still need to be worked on.
On April 15, co-founder of Ethereum Vitalik Buterin tweeted about future plans:
Mainnet-configuration eth2 testnet.
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 https://t.co/EmUNnOoL6Q
— vitalik.eth (@VitalikButerin) April 14, 2020
How do innovations affect the market?
The previous week was very favorable for Ethereum (ETH). The second cryptocurrency by market capitalization showed an increase of 14% and now costs $180. It is significant that, for example, Bitcoin (BTC) has grown by 3% over the past 7 days.
It should be noted that the positive dynamics of ETH is somehow related to the news about testing the PoS protocol. Adam Cochran, a partner at MetaCartel Ventures, cited 7 key reasons why Ethereum 2.0 could play a key role in the new economic system. He mentioned the advantages of the PoS protocol, which investors will surely be interested in. According to Cochran, “fear of missing out” will certainly have an impact on further price increases.
ETH 2.0 is only a few months away, and could prove to be the largest economic shift in society for a few key reasons.
Here is my 7 economic cases for how ETH will preform with the ETH 2.0 rollout. pic.twitter.com/fxIqu07xAb
— Adam Cochran (@AdamScochran) April 17, 2020
The largest holders of ETH tokens show a tendency to accumulate, but in comparison with the beginning of the month, this indicator begins to decline. As you can observe, now ETH is in a favorable position. There is every reason to believe that we will definitely see a further increase in prices.
The final launch of the Ethereum 2.0 network is planned in six stages. If necessary, significant changes will be made at each phase. Today it is known that the very first launch will take place no earlier than July.