A Recent Execution Layer Meeting Reveals Testing Updates
A recent Execution Layer Meeting between Ethereum Foundation and core developers provided some important updates on testing. Here are the key points:
- Devnet-8: The test network for the Cancun upgrade has been launched.
- Holesky Testnet: Parithosh Jayanthi, a DevOps at the Ethereum Foundation, shared updates on Devnet-8 and Holesky testnet during the meeting. Holesky mainnet is expected to launch on September 15, 2023, replacing Goerli as a staking, infrastructure, and protocol-developer testnet.
- Testing Updates: The Ethereum network has tested 1.4 million validators and over 1 billion Ether. Similar testing is proposed for Holesky.
ETH Price Volatility Expected
The wider crypto markets experienced a bearish cycle on August 18, 2023, due to selloffs in the US financial markets and the news of SpaceX selling off its Bitcoin holdings. In the coming months, the Ethereum price could see increased volatility due to the potential approval of an Ethereum-based futures ETF. Speculation suggests that the US Securities and Exchange Commission (SEC) may give approval for Ethereum futures ETFs.
Hot Take
The updates from the Execution Layer Meeting provide insights into the testing progress and upcoming changes in the Ethereum network. The launch of Holesky mainnet and the potential approval of Ethereum futures ETFs could have significant impacts on the ETH price and market dynamics. Keep a close eye on these developments if you’re a crypto reader interested in Ethereum.
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