The Merge is Close: Ethereum Releases Kintsugi Testnet
The Kintsugi testnet has officially launched, marking a significant step towards Ethereum’s The Merge.
Previously, on December 20, core developer Tim Beiko announced the launch of the Kintsugi testnet as part of the project’s plan to transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) (PoS).
The testnet, as the name implies, is used to experiment with new functionality and mechanisms, ensuring that everything is in place and working properly before launching the mainnet.
“Over the past few months, client teams have been working tirelessly to implement a new set of merge milestones. They are now live on a new testnet: Kintsugi.”
Proof-of-Stake and Sharding are key aspects of Ethereum 2.0, and The Merge will take place in Q1/Q2 of 2022, as planned. Kintsugi testnet will put the mechanism transition from PoW to PoS to the test, which is a significant step forward for ETH 2.0.
Because it is a test phase, the data is not officially saved on the blockchain, so it is very adaptable if there are security flaws, failed transactions, etc.
On December 8, Ethereum activated “Difficulty Bomb,” a method for controlling network mining speed. This move is for time extension prior to the consensus shift and will have no effect on any holders.
The Kintsugi testnet will have no impact on network users and developers. The development team, community, and projects, on the other hand, are encouraged to shift to this testnet.
Despite concerns about the long-term development of the released networks, Beiko is confident in Kintsugi’s long-term growth. In fact, the testnet was operational for a few days before it was made public.
The Transition To PoS
Following the launch of Beacon Chain earlier this month, The Merge is the next stage of the Ethereum 2.0 upgrade. During this phase, Ethereum 1.0 and Bacon Chain will merge into a single Ethereum network, and PoW will be replaced with PoS.
With the help of Ethereum 1.0, smart contracts will be integrated into the PoS system. Ethereum 1.0 will also enable the integration of Ethereum’s full history and current state, ensuring a smooth transition for all users and holders on the Ethereum 1.0 network.
The merge will see the end of mining (with PoW) and the implementation of node staking — stakers, or validators, will be assigned to validate transactions on the mainet.
According to statistics, the most major issue with PoW is resource consumption, as the mechanism necessitates a large amount of hardware and software.