Ethereum 2.0 testnet goes live amid recovery across the crypto market

Ethereum is making great strides towards the revolutionary Ethereum 2.0 upgrade. The network has announced the launch of Ethereum 2.0 testnet where the much-awaited Proof-of-Stake consensus algorithm will be integrated.

The testnet deadline had been set for March and the team behind the development of the upgrade Nimbus has said that in spite of the challenges faced they are glad to have made progress.

“We did it..we have a Nimbus-to-Nimbus testnet running, not just in a simulation on a single machine, but with a remote bootstrap node and people connecting to it – even from outside of Status!

This is a major milestone in the development of Ethereum 2.0, and while stability issues persist and bugs will happen, the fact that we now have a Beacon chain synchronizing across nodes that aren’t necessarily local to each other is a big deal.”

The announcement details the procedure the users can use to join the testnet. The initial stage is referred to as testnet0 while other stages are expected to bring onboard sharding technology as well as expanded capacity for the Ethereum network. Nimbus is ready to monitor the feedback while planning to add more features to the testnet.

Meanwhile, the testnet comes at a time when the cryptocurrency market is experiencing a bullish wave. Ethereum, for example, added more 10% to its value today to trade above $150. Bitcoin and other assets are also in the green. The total market capitalization broke above $160 billion from yesterday’s $146 billion.