Crypto Beginner

Ethereum’s third and final testnet is live 

Ethereum’s third testnet

The third and final Ethereum testnet, Goerli, is now live. The test merge that made this possible took place around 9.50 pm ET on Wednesday. Goerli was the last of three public testnets before The Merge, the highly anticipated Ethereum switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS).

Goerli going live opens up possibility of The Merge being advanced.

The details

The blockchain network completed the Ropsten test merge in June and Sepolia in July. The two previous testnet merges were successful and boosted the confidence of the Ethereum community.

The Goerli testnet merge is also a success but the final verdict will be determined after a thorough evaluation of the upgraded network.

With the completion of Goerli, the next step will be to implement The Merge on the Ethereum mainnet.

The Merge is supposed to make the network more energy efficient and cheaper to use, and the test merges served as a kind of practice session. The test merges ensure that the client software used to run Ethereum nodes, such as Nethermind, Besu, Geth, and Erigon, are functioning normally and without bugs.

How are things evolving now?

The final upgrade is currently scheduled for September, but things could change now.

With crypto developers and ETH fans already eagerly anticipating the final Merge, the latest test merge caused ETH to rise by 7.52% yesterday. The crypto has also reclaimed a $225 billion market cap.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user’s own risk.

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