Last updated on April 14th, 2023 at 12:35 pm
The much-anticipated ethereum 2.0 Medalla testnet has been launched, according to the Ethereum Foundation in a video clip posted on its official YouTube Channel on Tuesday, August 4, 2020
Medalla is the final testnet before the launch of the Eth 2.0 network, which is tentatively expected by year’s end, Ethereum Foundation’s Hudson Jameson said in several tweets.
It’s gathered that over 20,000 validators have joined the network with some 650,000 ether (ETH) staked, according to the Beaconcha.in block explorer.
Medalla was joined by five clients including Prysmatic Labs’ Prysm, ChainSafe’s Lodestar, PegaSys’ Teku, Status’ Nimbus and Sigma Prime’s Lighthouse.
Each testnet uses its own tokens not equivalent to real ETH.
See video below of the launch below:
Crypto enthusiasts react:
Meanwhile, the launch of ETH 2.0 Medalla Testnet has sparked excitement on social media platforms, with hundreds of ETH followers sending in their congratulatory messages.
Performance of ETH lately
Ethereum value reached a significant point on Sunday, August 2, 2020 when price hit a two-year peak of $410.
For the past three months, Ethereum hovering around $200 to $240 before it finally broke out to surge 70% in less than two weeks.
At the time of this report, ETH is witnessing more than 90% profit and analysts are already excited about the surge.
Already, investors are rushing to get some ETH into their wallets to reap from the sudden surge which may not be unconnected with the recent performance of BTC on the crypto trading market.
ETH 2.0 Medalla Testnet
The Medalla testnet was first announced in mid-July and a few days later, ETH prices started to react in what was the start of that big run-up to $400.
Medalla is a simulation, so it does not make use of real ETH tokens, but instead utilizes Göerli testnet ETH (GöETH) tokens that generate simulated staking rewards with no real value.
Ethereum foundation also launched an official portal for the project for validators to get involved and monitor progress.