Ethereum 2.0 Hype: Validators Drop Off Testnets; Bullish ETH Price Predictions
It’s been just revealed by the latest info coming from Coindesk that only 36% of the necessary 66% of participants that are required to secure the Medalla testnet have stuck around.
The same online publication also noted that this is echoed by the more recent Zinken testnet – this one has just under the 66% needed to function properly as of this past Monday, according to beaconcha.in.
Practicing the launch of ETH 2.0’s Phase 0
These testnets are the ones meant to practice the launch of Eth 2.0’s Phase 0 this fall – launched in September and October, respectively.
“Medalla has entered a finality issue again due to user confusion around which testnet they should run. Unfortunately, many users had abandoned Medalla for Zinken,” Prysmatic Labs team lead Preston Van Loon told CoinDesk not too long ago.
PoS blockchains are similar to political elections, according to Coindesk. They note that the depositors of coin holdings are acting as politicians, and every transaction has to be voted on in what’s called validation.
It’s been also highlighted that enough politicians have to show up for the vote to count in terms of “finality” and neither Medalla or Zinken have enough votes to do this.
Coindesk also made sure to note that ConsenSys Eth 2.0 developer Ben Edgington called on developers to release the deposit contract in a CoinDesk Op-Ed last week.
In a blog post, Edgington further said he is “expecting news about the deposit contract any day now” and that client teams were basically “good to go.”
Bullish ETH price prediction
It’s been just revealed that a leading trader on the crypto exchange Binance is predicting that Ethereum (ETH) will hit a new all-time high in the coming weeks.
At the moment of writing this article, ETH is trading in the green, and the coin is priced at $379.04.
The coin is expected to hit more than $2,000 in the upcoming weeks.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.