Ethereum developers test the 2.0 upgrade on a Shadow fork of the mainnet in order to get a clear picture of the merge that will transition the network to a PoS so let’s read more in today’s latest Ethereum news.
The Ethereum Foundation got a step closer to deploying ETH 2.0 and was using shadow forks to test this and to resemble the Ethereum mainnet as close as possible. Over the weekend, the Ethereum DevOps engineer Parathi Jayanathi said that the team did three shadow forks of the Goerli testnet and found bugs that vary from a sync code to request timeout in the process. Marius Van den Wijden said:
“We’re very close to a historical event. We’re testing PoS on #Ethereum. Today will be the first mainnet shadow fork ever.”
The shadow fork is a term that refers to the copying of data from a mainnet network and in this case the ETH blockchain to a testnet where the developers can test features before deploying their work to the main network and by doing so, ETH engineers made their test environment resemble the one of Ethereum and makeup to 1 billion transactions per day. As of the time of writing, the new ETH shadow fork network processed 1.8 million transactions with a block time of 13.8. It’s a huge milestone as the developers got closer to transitioning the mainnet itself from the PoW to a PoS model.
The BTC network users the PoW model and ofter got criticized for the amount of energy required for the miners to compete with one another and validate transactions. In the meantime, the ETH Foundation said that the transition to a PoS model will reduce the energy demands on the network validators. The Ethereum 2.0 upgrade was in the works for a long time. The first phase dubbed Beacon Chain went live at the end of 2020. the next phase called The Merge is still in the works and expected to be completed by the start of Q3 according to Ethereum co-founder Joe Lubin.
As recently reported, The ETH price could extend the decline towards $3000 in the near-term as the coin started a new decline as it faced rejection close to the $3280 and the $3300 level. The price is now trading below these levels and the 100 hourly simple moving average. There’s a major bearish trendline forming with the resistance near $3320 on the charts of the pair and the pair could extend the decline to $3000 if it trades below this support line.