Vitalik Say’s Ethereum As the Continuation of Satoshi’s Vision, With the Launch Of Medalla Testnet For ETH 2.0
The development team of Ethereum successfully commissioned Vitalik Buterin on August 4th as the last Medalla genesis, or medallion, of the Ethereum blockchain, just in time.
This follows the upcoming announcement of the developer of Ethereum, Terence Tsao, who said that the Genesis state of the market had reached its final rule, the “Medulla of Genesis.”
Ethereum Continues Carrying Satoshi’s Vision
For the development team, the launch process of Ethereum 2.0 can be seen as a continuation of Satoshi Nakamoto’s vision of the Ethereum blockchain and an attempt to complicate the keep-up-to-date and complicated maintenance of the status process.
While he also said that Medalla’s success would be a “landline” for the future of blockchain technology in general and Ethereum in particular.
Beacon Chain is a brand new POS blockchain that will serve as the backbone of the ETH 2.0 network. Beacon Chain has passed through several test networks with updates and delays. Still, Medalla is its last test network. It hosts a fixed system and is hosted by the same team responsible for the introduction of Ethereum 1.1.
This last step will open the system to DApps and transaction processing. The next phase will introduce untested concepts into the blockchain that, if successful, will enable scalability issues to be addressed much more efficiently than the current system.
Vitalik responded to a user of an Ethereum meme who suggested that Ethereum 2.0 could make Bitcoin obsolete.
The Upcoming Expectation
With turnout expected to be 80%, the project suffered from the campaign cancellations of recent days. The setback meant that the network was unable to reach the block finality after the shutdown because 32 ETH participation validators were offline.
Danny Ryan, of the Ethereum Foundation, said: “Two customers, Nimbus and Lodestar, accounted for 10% of all offline validators, and the team is continuously investigating validations and monitoring metrics and issues.