Ethereum News: "Holli (Holesovice)" Testnet To Solve ETH Supply Issues

Ethereum core developer Tim Beiko in a tweet on February 24 announced that the team plans to launch the Holli testnet near September 15, 2023. The plan to launch a new testnet has been in process since the Merge upgrade last September.

advertisement

Trending Stories
Ethereum (ETH) Withdrawn After Shanghai (Shapella) Upgrade: Details
ETH Price Prediction: New Recovery Cycle in Ethereum Price Hints a 10% Rally Ahead
24/7 Cryptocurrency News
pepe coin crypto news
PEPE Price Prediction: This Chart Pattern may Determine if PEPE Token Price will Rally 70% or Fall 40%
24/7 Cryptocurrency News
bitcoin news crypto
Bitcoin Price Reversal from a Healthy Retracement Level Hints 6% Jump; Enter Today?
24/7 Cryptocurrency News
Cardano Price Prediction
ADA Price Prediction: Healthy Retracement to Key Fibonacci Level Prepares Cardano Price for 16% Rally
24/7 Cryptocurrency News
XRP ripple crypto news price
XRP Price Prediction: XRP Price Correction Halts at a Crucial Fibonacci Support; Will Recovery Kickstart?
24/7 Cryptocurrency News

He said old testnets end up being a problem for clients and node operators because it takes more time and space to sync. The Sepolia testnet addressed the supply issue by using a mintable ERC20 token for its beacon chain, instead of sepETH. This allowed validators to effectively mint SepETH, post-Shapella, and solve the supply issue.

Unfortunately, Sepolia isn’t open to permisionless validators, but Goerli is. The Goerli uses the Ethereum client GoETH for its beacon chain. So, over the past few months, an effort has started to create recurring ephemeral testnets for stakers and shadow forks to quickly test upgrades without running a testnet.

Therefore, before Holli testnet launch, Ethereum developers plan to get application developers easy access to testnet ETH tokens. Testnets help three distinct groups of users: client developers, application developers, and node operators/stakers/miners. However, the needs of each group are quite diverse.

Ethereum Developer’s Plan To Solve Problems With Testnet

Bitcoin Campaign

The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 USDT.

Signup Ad

Tim Beiko gave two suggestions to solve the problems. First, add each ETH address where the contract is deployed on the mainnet, Goerli, or Sepolia to the genesis file. Second, coordinate with major contract and infrastructure developers to launch on the network shortly after genesis.

Tim Beiko is currently seeking input from application layer developers on how to resolve this issue. Moreover, the name “Holli” is not final, it could be changed to Holesky or Holesovice.

Meanwhile, Ethereum prepares to enable the withdrawal of Ethereum staked on the Beacon chain with the Shanghai upgrade in March. Ethereum price currently trades at $1,653.

Also Read: Bitcoin Price To Suffer? IMF Issues Crypto Action Plan

Comments

Post a Comment

Popular posts from this blog

1 in 4 investment firms assign senior execs to digital assets: Report

Image
One-quarter of asset managers and hedge funds in the US and Europe have recruited senior executives to oversee digital asset strategies, according to a recent report. Based on the findings of a market intelligence firm, an increasing number of investment firms in the United States, United Kingdom, and Europe are appointing senior executives to lead digital asset investment strategies. According to a recent Amberdata report titled 'Digital Assets: Managers' Data Infrastructure Fuel,' 24% of asset management firms have adopted a digital assets strategy, with an extra 13% planning to do so in the next two years. “These roles are being staffed up, with almost a quarter of firms with a senior role dedicated to digital assets, reflecting seriousness about implementation as well as senior management buy-in.” Organizations with a senior role dedicated to dedicated asset strategy implementation. Source: Amberdata The report surveyed 60 investment professionals across the United St
Read more

Bitcoin Price Prediction for Today, December 28: BTC/USD Could Avoid another Downtrend If Closes Above $17k

Image
The Bitcoin price prediction shows that BTC sees a 0.63% decline after trading near the $17,000 resistance level, the first digital asset heads lower. Bitcoin Prediction Statistics Data: Bitcoin price now – $16,593 Bitcoin market cap – $319.5 billion Bitcoin circulating supply – 19.2 million Bitcoin total supply – 19.2 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $21,000, $23,000, $25,000 Support Levels: $14,000, $12,000, $10,000 BTC/USD loses its momentum after trading near the resistance level of $17,000. As of writing, the king coin is down 0.63% on the day at $16,733 below the 9-day and 21-day moving averages. Meanwhile, Bitcoin (BTC) may struggle to close above $17,000 and if it does, it should be free to rise well above $18,000 if it moves in the next positive direction. Bitcoin Price Prediction: Bitcoin (BTC) Range-bounds After a slightly positive move above $16,700, the Bitcoin price is
Read more

Federal Reserve Raises Interest Rate by 25bps, Insists ‘US Banking System Is Sound and Resilient’

The U.S. Federal Reserve, in conjunction with the Federal Open Market Committee (FOMC), announced on Wednesday that the central bank would raise the federal funds rate by 25 basis points (bps), as was widely expected by the market. This marks the tenth consecutive occasion in which the Fed has raised interest rates since the initial 25bps increase in March 2022. FOMC Announcement Says ‘Additional Policy Firming May Be Appropriate’ At 2:00 p.m. Eastern Time, the central bank raised the benchmark interest rate citing that economic activity expanded “at a modest pace in the first quarter.” The Fed’s announcement noted that unemployment has been low but “inflation remains elevated.” The FOMC announcement further addressed the issues in the U.S. banking industry and the committee emphasized that the “U.S. banking system is sound and resilient.” The Fed’s unbroken chain of rate hikes is a testament to the bank’s unwavering commitment to getting inflation down. The FOMC’s press release no
Read more