Cryptocurrency news

The Ethereum 2.0 test network attracted 22,000 validators

The Ethereum 2.0 test network attracted 22,000 validators

One of the largest test networks, Ethereum 2.0, is actively developing and has already attracted 22,000 validators.

The Ethereum 2.0 test network from Prysmatic Labs was launched on January 9 and last week recorded
presence of 22,000 validators. As noted
developed by Raul Jordan, this test network is the largest for Ethereum 2.0 at the moment.

“We have just recorded 100% participation of more than 22,000 active validators in the world’s largest ETH2 testnet,” he said
Preston van Loon, another developer of Prysmatic Labs. “This is 22,000 keys and probably 5 to 10 individual operators. There may be more of them, but it’s hard to tell who controls the keys and who just acts as an observer.”

According to him, there are only 70 nodes, which can be considered a great achievement for the recently launched test network and clearly shows that the launch of Ethereum 2.0 is of great interest to the community. The excitement is caused by the fact that the competition is considerable, a lot of money is invested in the development, but there are also a lot of opportunities.

The test network can provide an answer to the question whether it is worth participating in the future main network, both for service providers and for individual users. In addition, testnet – a good test of strength for the security system. Van Loon has already called on hackers to hack the test network so that developers can fix security gaps.

According to the approximate estimates of Vitalik Buterin, the transition of Ethereum to the Proof-of-Stake consensus can lead to the blocking of about 10 million ETH used by validators. Annual inflation will increase slightly for ETH, it may be around 6%. The specific reward for validators will vary depending on the number of coins involved, as in classic mining. The more ETH is involved in the network, the smaller the proportional distribution of rewards will be. Such an approach should prevent the “whales» receive most of the rewards.

Recall that in December, the Istanbul hard fork was successfully activated in the Ethereum network, and earlier in 2019, the St hard forks were held in the network. Petersburg and Constantinople. The second part of Istanbul was the last planned hard fork before switching to Ethereum 2.0, which is expected to be implemented in the next 6 months.