Ethereum’s new ‘Holesky’ testnet to launch in September

cyptouser11 months agoCryptocurrencies News319

Ethereum’s new ‘Holesky’ testnet to launch in September

In an Aug. 17 meeting, Ethereum developers discussed developments around a new testnet — named ‘Holesky’ — that is set to launch on Sept. 15.

Parithosh Jayanthi, DevOps at the Ethereum Foundation, said that developers tested 1.4 million validators on the Holesky testnet and were able to finalize the network. Jayanthi said this is now recommended as the starting size for the testnet.

Jayanthi also asked developers how many testnet tokens should circulate on Holesky. Ethereum developers decided to introduce 1.6 billion Holesky ETH into circulation, as large supplies have previously been supported on testnets. Developers decided not to reduce that number to match the Ethereum mainnet’s 120 million ETH supply, though this option was briefly under consideration.

Holesky will launch in mid-September

GitHub documentation indicates that Holesky will launch on Sept. 15, 2023 at 14:00 UTC. This incidentally was the date of Ethereum’s Merge launch in 2022.

The testnet will remain in use for several years, with long-term service (LTS) support lasting until 2027 and end-of-life (EOL) lasting until 2028.

Documentation additionally states that Holesky will replace Ethereum’s Goerli testnet, which was introduced in 2019 as the project prepared to launch its proof-of-stake features and abandon proof-of-work mining. Goerli and Holesky — as well as the current Ethereum mainnet — all act as proof-of-stake chains. However, unlike Ethereum’s mainnet, the two testnets do not use ETH tokens with real market value.

Holesky will also pave the way for two future Ethereum upgrades: an execution layer upgrade called Cancun and a consensus layer upgrade called Deneb.

The testnet’s unusual name is not “hole-sky” but is named after a train station in the Czech Republic city of Prague. That station is often casually referred to as “Holešky.” Ackee Blockchain Security discovered that the testnet’s code contains an easter egg: the chain ID of the testnet, 17000, is also the area’s postal code.


The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Japan’s SBI Group partners with Ripple, but XRP price remains unaffected

Japan-based financial services company SBI Group has partnered with Ripple to use XRP to expand its...

Jason Lowrey’s ‘Softwar’ removed from circulation and MIT library for unknown reasons

Jason Lowrey, the author of Softwar: A Novel Theory on Power Projection and the National Strate...

Ethereum MEV incentives limit decentralization new report shows

Ethereum MEV incentives limit decentralization new report shows

On blockchain networks like Ethereum, decentralized validation underpins the entire ecosystem....

Friend.tech founders have controversial ties to failed NFT project Kosetto

Information on social media platform X(formerly Twitter) suggests that Friend.tech founders 0xRacerAlt and Shrimppepe have connections to a failed NFT project, Kosetto.

Kosetto NFTs

Kosetto is a tradeable NFT wearables project launched last December on Ethereum. The project, which consisted of 1,689 items, sparked significant excitement with users flooding social media platforms with posts about it. However, after it had introduced a Chrome extension for its NFTs in January, the project went silent in February after promising that “something big was coming.”

OpenSea’s data shows that the floor price of the collection is currently 0.01 ETH, around $17. The last sale for the NFTs occurred in February, with its total sales volume at only 5 ETH.

As of press time, Kosetto’s website was unavailable, displaying an Error 402.

Describing the project’s sudden demise, Justin Kalland, the Vice President of Innovation at Horizen Labs Ventures, said:

“The entire thing just disappeared, last update was in January that a Chrome extension was available. No communication or warning to users.”

Link to Friend.tech founders

On X, several crypto community members have pointed out that the struggling NFT project was linked to the Friend.tech founders.

Kalland pointed out that a search of 0xRacerAlt’s tweet shows that they have deleted several links to the NFT project and that the Friend.tech founder held an official position on Kosetto Discord.

CryptoSlate confirmed that 0xRacerAlt and Shrimppepe play an active role in Kosetto’s Discord community.

Friend.tech founders have controversial ties to failed NFT project Kosetto

Friend.tech founders have controversial ties to failed NFT project Kosetto

Information on social media platform X(formerly Twitter) suggests that Friend.tech founders 0xRacerA...

ChatGPT gains basic memory feature with new update

OpenAI, the artificial intelligence research lab, has introduced a new update to its popular ap...

Hong Kong’s bond tokenization efforts yield ‘significant operational improvements’

The Hong Kong Monetary Authority (HKMA) said that blockchain-based bonds have showcased the potentia...