Core Ethereum developers proposed a new testnet of the Ethereum blockchain to overcome the challenges of existing testnets.
Ethereum is a second-ranked smart contract-enabled blockchain network, which is running on the Proof-of-stake (PoS) consensus since 15 Sep 2022 after merging with the Beacon PoS chain via TheMerge upgrade. ETH is a native coin on the Ethereum network and the current trade price of ETH is $1,601.
Recently Ethereum core developers informed the crypto community that ETH devs planned a new Ethereum testnet blockchain “Holli”. Ethereum’s new testnet blockchain will be launched by later this year and it will mainly focus on providing a better environment for the app devs & fight against challenges in the Ethereum testnet Goerli.
Testnet blockchain
The testnet blockchain network helps devs to test their innovations like upgrades codes, DApp tests, Defi protocol tests, etc.
In short, devs use Testnet as an experimental blockchain to find out bugs & errors for their corresponding innovations and later they proceed with the mainnet blockchain.
Ethereum on PoS consensus
As we know, Ethereum shifted its operations from Proof-of-work (PoW) consensus to PoS consensus in Sep 2022 but still, the Ethereum network is not able to process the ETH token transactions with high efficiency.
The transaction fee on the Ethereum network is still the same. Ethereum devs are working tirelessly to bring high scalability and efficiency to the network to process huge numbers of transactions per second and they are expecting that it will happen in the next couple of years.
Read also: UK Government AI Advisor Joins CryptoGPT
ETH devs propose new Ethereum testnet
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