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Stacks Accelerates Toward Mainnet With Strategic Nakamoto Testnet Rollout
The layer two (L2) project Stacks has officially released its public Nakamoto Testnet, offering a refined testing ground for developers and signers ahead of the mainnet launch. Stacks Introduces Nakamoto Testnet for Comprehensive Pre-Mainnet Testing In a significant step forward for the Stacks ecosystem, the Nakamoto Testnet has been introduced, providing a formal and public […]Circle Launches New ‘Bridged USDC Standard’ To Reduce Fragmentation Across Chains
The firm behind the second-largest dollar-pegged crypto asset by market cap is launching a new token standard for their stablecoin. According to a new announcement, Circle is introducing the Bridged USDC Standard, a new standard and process for deploying a bridged form of USDC on Ethereum Virtual Machine (EVM) blockchains. Circle says that the bridged USDC […]
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Ethereum launches new testnet ‘Holešky,’ allocates 1.6B ETH for devs
Holešky testnet had a 1.6 billion ETH supply at launch, making it potentially more accessible than the older Goerli network.
Ethereum developers launched a new testnet on Sept. 15. Called “Holešky,” the network is expected to be used for staking, infrastructure and protocol development, according to its developer documents. Sepolia will remain the dominant network for application development.
Hello Holesky, Ethereum’s Newest Testnet
— Amy Kols Network (@Amyykols) September 14, 2023
Read details below#cryptonews #ETH pic.twitter.com/Z6DUMkOExz
An initial supply of 1.6 billion Holešky testnet Ether (HETH) will be allocated to validators on Holešky’s launch day to bootstrap the network into operation, according to Ethereum developer Tim Beiko. This represents 10 times the amount of Ether (ETH) present on mainnet. Beiko stated that developers were comfortable with producing this amount because “devnets [are] regularly using 10B supply.”
Previously, the Goerli testnet was used to test new staking, infrastructure and protocol developments. Goerli is the oldest Ethereum testnet in operation, having been launched in 2018. In October, protocol developers began complaining that Goerli had too low of a supply of Goerli ETH to adequately handle testing needs. Given its large initial supply of HETH, Holešky is expected to help alleviate this problem.
Related: Ethereum Merge anniversary — 99% energy drop but centralization fears linger
Since Sepolia was launched in 2021, the Ethereum team has been urging application developers to move from Goerli to Sepolia, leaving only protocol developers remaining on the old network prior to the launch of Holešky. The team plans to deprecate Goerli in January 2024. After deprecation, Goerli will be maintained for another year, then shut down entirely, according to its documentation.
Holešky could see a lot of use, as Ethereum devs have an ambitious roadmap ahead of them. They intend to implement proto-danksharding, danksharding and other features they believe will reduce fees, as well as features like Verkle trees, which are intended to make running a node less expensive. Each of these features will need to be trialed on a testnet before being implemented on mainnet.
Shiba Inu Layer-2 Testnet Garners 25 Million Transactions As SHIB Developers Promote Shibarium’s Benefits
New data reveals that over 25 million transactions have taken place over the testnet of Shibarium, Shiba Inu’s (SHIB) highly anticipated new layer-2 scaling solution, as the project’s developers promote its benefits. According to blockchain scanner Blockscout, 25,780,900 transactions have taken place over the testnet, known as the Puppynet, since it launched in March. Furthermore, […]
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BNB Greenfield hits testnet, decentralized storage coming to BNB Chain
BNB Chain is calling for developers, validators and storage providers to begin testing its BNB Greenfield decentralized storage solution.
The BNB Chain ecosystem is set to integrate decentralized storage solutions after testing of its BNB Greenfield began on April 10.
BNB Greenfield is modeled to emulate conventional Web2 cloud storage solutions, providing fast and cost-effective data services in combination with enhanced ownership and integration for Web3 applications and services.
The announcement of the testnet shared with Cointelegraph outlined initial features that will allow users and developers to begin using decentralized storage.
Data permission can be moved cross-chain to the Binance Smart Chain (BSC), allowing data to be turned into tradabale digital assets that can be integrated with a variety of Decentralized Finance (DeFi), nonfungible tokens (NFTs) and GameFi apps on BSC.
Related: BNB Chain now has more unique addresses than Ethereum, developer says
Users can create wallets and manage data on BNB Greenfield while developers are able to exercise control over data assets. This includes the ability to set access and conditions both manually or programmatically.
A relayer links BSC and Greenfield which allows BSC DApps to integrate with Greenfield using a software development kit. The Binance ecosystem’s BNB token will serve as the gas and governance token for BNB Greenfield. Validators will stake BNB, participate in network governance and earn revenue from storage fees.
Meanwhile users create accounts and transfer BNB in order to manage storage resources and use native cross-chain communication between BSC and Greenfield.
The Greenfield testnet will see storage providers (SPs) work with validators to facilitate the platform’s storage services. SPs are responsible for storing actual data, while validators process metadata and financial ledger information through consensus algorithms.
In order to become an SP, a user must deposit a Service Stake on the Greenfield blockchain, which is then voted for by validators through a governance process. The design is aimed to ensure efficient user data storage, redundancy and security. Greenfield's proof-of-stake mechanism institutes decentralized governance of the platform.
BNB Chain senior solution architect Victor Genin said that Greenfield is now open for SPs and users to begin stress testing the service on its Congo testnet:
“Developers will be able to choose to store data anywhere, from decentralized terminals to centralized storage services while validators will be instrumental in shaping the future of data ownership and utility in web3.”
With over 1400 active DApps and 200 million unique addresses across the BNB Chain, the firm envisions its data storage solution to serve a booming data economy. Data from Fortune Business Insights estimates that the global data storage market will be valued at over $777 billion by 2030.
Magazine: Web3 Gamer: Shrapnel wows at GDC, Undead Blocks hot take, Second Trip
Shiba Inu’s Shibarium Testnet Transactions Explode to Over 1,000,000: SHIB Blockchain Explorer
New data reveals that over a million transactions have already been conducted over Puppynet, the testnet of Shiba Inu’s (SHIB) highly anticipated new layer-2 scaling solution, Shibarium. According to blockchain scanner Blockscout, 1,076,331 transactions have taken place over Shibarium’s testnet since it launched in its beta form last week. Shibarium will be the Shiba Inu […]
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Shiba Inu Whale Abruptly Moves 800,215,912,624 SHIB As Dogecoin-Rival Developer Dispels Code Rumors
A Shiba Inu (SHIB) whale is abruptly moving hundreds of billions of tokens as a project developer debunks rumors that Shibarium, the ecosystem’s new layer-2 protocol, utilizes stolen code. New data from the whale-tracking platform Whale Alert reveals that the deep-pocketed crypto investor suddenly moved 800,215,912,624 SHIB, worth $8,230,620 at time of transfer, from Shiba […]
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Shiba Inu’s Highly Anticipated Shibarium Officially Launches in Beta Form – Here’s How To Test the Ethereum Scaling Protocol
A beta version of Shiba Inu’s (SHIB) highly anticipated layer-2 scaling solution Shibarium is officially live. The pseudonymous developer in charge of the project, Shytoshi Kusama, says his team has flipped the switch and early beta testers can now use the testnet. However, he warns crypto traders that tokens on the testnet, which has been […]
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ConsenSys zkEVM set for public testnet to deliver secure settlements on Ethereum
ConsenSys will release its zkEVM rollup to its public testnet on March 28, paving the way for an eventual mainnet integration later in 2023.
ConsenSys has announced the upcoming release of its zero-knowledge Ethereum Virtual Machine (zkEVM) rollup to a public testnet on March 28, allowing for stress testing of the layer-2 scaling technology.
ConsenSys’ research and development team has been working on its zkEVM rollup over the past four years. The zkEVM is touted to offer fast finality, high throughput and security of settlements on the Ethereum blockchain.
A private beta launched in Q4 of 2022 gave early access to limited users, which processed over 350,000 transactions and onboarded various decentralized applications (DApps). The testnet allowed Solidity developers to build, test and launch DApps while testing the zkEVM at scale.
Onboarding for our zkEVM is in full flow, and activity is at peak levels
— ConsenSys (@ConsenSys) February 23, 2023
We’ve successfully executed 300k total transactions and are processing more than 50,000 transactions per day
https://t.co/Tn42pKGPrr
ConsenSys zkEVM is the culmination of work from teams at Infura, Truffle and MetaMask, as well as developers on Besu and Gnark. Integrations and features of the rollup were aimed to remove developer complexity, improve security and expedite onboarding times.
An announcement shared with Cointelegraph highlighted zero switching costs as a benefit to projects in the ecosystem. Developers can build on the zkEVM or migrate existing DApps without changing code or rewriting smart contracts. The zkEVM also uses Ether (ETH) for gas fees, cutting out the need for third-party code translation and other middleware solutions.
ConsenSys zkEVM integrates with MetaMask, which is aimed to expedite the onboarding of users. Infura integration also allows developers to ship DApps at scale. Developers will also be able to build, test, debug and deploy Solidity smart contracts with a variety of layer 2 developer environments powered by Truffle.
ConsenSys also aims to keep its zkEVM open-source after launch. Nicolas Liochon, head of research and development at ConsenSys, told Cointelegraph that the goal of the public beta testnet is to trial the system under the same conditions it would face on mainnet where the stakes are higher.
“Users and developers will be able to permissionlessly interact with our technology stack allowing us to stress test the system under challenging and adversarial conditions.”
Following integration with the public testnet, ConsenSys will carry out a system outgrade. This is aimed at laying the foundation for a “highly performant, trustless, and decentralized network,” according to Liochon.
The final upgrade will also start its auditing and security process to ensure the zkEVM is safe and secure before a mainnet launch earmarked to take place later in 2023.
ConsenSys is in discussions with leading players in the Ethereum ecosystem to deploy and integrate with its zkEVM testnet. Liochon highlighted the focus on making the scaling rollup EVM-equivalent a key factor in making it easy for DApps and tools to switch to its zkEVM.
Liochon also said efforts to make decentralized and trustless applications available to the public require simpler and cheaper systems. The zkEVM aims to achieve this by building a trustless, censorship-resistance, decentralized and performant execution layer that scales Ethereum.
Collaboration with the wider layer 2 ecosystems is also a focus for ConsenSys. Liochon said the organization is looking to work with innovators in the space to convene the first zkEVM “multi-prover” rollup.
This type of scaling rollup would have multiple prover implementations generating validity proofs of computation.