Blockchain.news reports that, according to users’ anticipation, the 4th of August, 2020 was marked by launch of Medalla – the just-developed ETH 2.0 multiclient testnet. On and on, it demonstates Ethereum’s intention to effect transition from Proof-of-Work to Proof-of-Stake format. In other words, it means that the volume of block mining is tied to the amount a user staked in the system.
One more Medalla’s distinguishing feature is that the whole net is primarily in the community’s hands. So that, the blockchain workability and operability is upon the Ethereum validators. Anyone who effects mining on Medalla obtains profit in the form of a transaction fee. However, at present ETH 2.0 developers note that they face less validators concern that they expected, though, they the situation will improver in the nearest future.
The developers are also absolutely sure that the transition from ETH 1.0 to ETH 2.0 will pass smoothly and will not cause any noticeable obstacles.
Ethereum has passed a long and successful way development since its launch five years ago. As a result of their run, Ether, its cryptocurrency, has become the second strongest cryptocurrency in the world. It also demonstrates perfect headway during last months of 2020.
The developers team will provide all necessary information concerning Medalla progress on its Reddit account.