{"id":208839,"date":"2021-12-21T11:15:38","date_gmt":"2021-12-21T11:15:38","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=208839"},"modified":"2021-12-21T11:04:19","modified_gmt":"2021-12-21T11:04:19","slug":"ethereum-foundation-announces-the-launch-of-the-kintsugi-testnet","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/ethereum-foundation-announces-the-launch-of-the-kintsugi-testnet\/","title":{"rendered":"Ethereum Foundation announces the launch of the Kintsugi testnet"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Ethereum Foundation's Tim Beiko officially announced the <\/span><a href=\"https:\/\/blog.ethereum.org\/2021\/12\/20\/kintsugi-merge-testnet\/\"><span style=\"font-weight: 400;\">launch<\/span><\/a><span style=\"font-weight: 400;\"> of the Kintsugi testnet, a mechanism that will facilitate users to <\/span><a href=\"https:\/\/cryptoslate.com\/ethereums-proof-of-stake-protocol-in-review\/\"><span style=\"font-weight: 400;\">stake<\/span><\/a><span style=\"font-weight: 400;\"> on the Ethereum network.\u00a0\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Over the past few months, client teams have been working tirelessly to implement a new set of merge milestones. They are now live on a new testnet: Kintsugi \ud83c\udf75! <\/p>\n<p>Here&#39;s how you can join the testnet and help with testing: <a href=\"https:\/\/t.co\/ARDezguzXE\">https:\/\/t.co\/ARDezguzXE<\/a> \ud83d\udc40<\/p>\n<p>Christmas came early\ud83c\udf84!<\/p>\n<p>&mdash; Tim Beiko | timbeiko.eth \ud83c\udf75 (@TimBeiko) <a href=\"https:\/\/twitter.com\/TimBeiko\/status\/1472960957429129217?ref_src=twsrc%5Etfw\">December 20, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The introduction of Kintsugi testnet facilitates Ethereum's <\/span><a href=\"https:\/\/www.cnbctv18.com\/cryptocurrency\/explained-proof-of-work-vs-proof-of-stake-mining-and-why-ethereum-is-transitioning-to-latter-11819812.htm\"><span style=\"font-weight: 400;\">transition<\/span><\/a><span style=\"font-weight: 400;\"> from a proof of work network to a proof of stake network, which will help reduce the network's high energy consumption mining issues.<\/span><\/p>\n<h2><b>Ethereum 2.0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Ethereum developers have prepared Kintsugi testnet to enable <\/span><a href=\"https:\/\/cryptoslate.com\/vitalik-buterin-shares-his-endgame-for-ethereum-2-0\/\"><span style=\"font-weight: 400;\">Ethereum 2.0,<\/span><\/a><span style=\"font-weight: 400;\"> which will be a proof-of-stake network mechanism ensuring faster, cheaper, and less energy-depleting transactions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per the official blog <\/span><a href=\"https:\/\/blog.ethereum.org\/2021\/12\/20\/kintsugi-merge-testnet\/\"><span style=\"font-weight: 400;\">post<\/span><\/a><span style=\"font-weight: 400;\">, the Kintsugi testnet is now live on the network. The blog post also invites developers and potential projects to begin their initial testing and report any issues encountered, so they may be worked upon to make the network more robust in the long run.\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cThe Kintsugi testnet provides the community an opportunity to experiment with post-merge Ethereum and begin to identify any issues,\u201d the announcement further said.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">The introduction of the Kintsugi testnet facilitates the arrival of Ethereum 2.0's &#8220;merge.&#8221; This merge will combine Ethereum's current mainnet, which handles transactions with Ethereum's beacon chain, which governs staking. If successfully implemented, this will ensure Ethereum's transition towards a proof of stake mechanism, which will allow users to stake on Ethereum.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Kintsugi\"><span style=\"font-weight: 400;\">Kintsugi<\/span><\/a><span style=\"font-weight: 400;\"> testnet derives its name from an ancient Japanese pottery art that requires artisans to repair broken pottery by using gold, highlighting the repairs as part of the history of the item rather than something that needs to be hidden.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The<\/span><a href=\"https:\/\/ethereum.org\/en\/developers\/docs\/consensus-mechanisms\/pos\/\"><span style=\"font-weight: 400;\"> proof-of-stake<\/span><\/a><span style=\"font-weight: 400;\"> transition of Ethereum will allow the users to secure the network by locking ETH into the protocol, also known as staking. The staking will also enable users to earn additional crypto rewards by validating other transactions on the network.<\/span><\/p>\n<h2><b>Ethereum's 2.0 merge set to take place in 2022<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The merge between the mainnet and beacon chain of Ethereum is slated to take place in Q1 in 2022. After the merge, the network will be moving into its next stage of development, which will also include sharding, a feature that will enhance the network's scalability by ensuring low fees and fast transaction processing.\u00a0 \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to a November report by <\/span><a href=\"https:\/\/consensys.net\/blog\/codefi\/institutional-staking-on-ethereum-one-year-after-the-launch-of-the-beacon-chain\/\"><span style=\"font-weight: 400;\">Consensys<\/span><\/a><span style=\"font-weight: 400;\">, there are approximately <\/span><a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/staking-contract-of-eth-2-0-reaches-35-billion-worth-of-coins\/\"><span style=\"font-weight: 400;\">8.3 million ETH <\/span><\/a><span style=\"font-weight: 400;\">staked in Ethereum's beacon chain, amounting to roughly $35 billion.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum Foundation&#8217;s Tim Beiko officially announced the launch of the Kintsugi testnet, a mechanism that will facilitate users to stake on the Ethereum network.\u00a0\u00a0 Over the past few months, client teams have been working tirelessly to implement a new set of merge milestones. They are now live on a new testnet: Kintsugi \ud83c\udf75! Here&#39;s how [&hellip;]<\/p>\n","protected":false},"author":824,"featured_media":208858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46940,61713,37],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Foundation announces the launch of the Kintsugi testnet<\/title>\n<meta name=\"description\" content=\"Ethereum Foundation has launched its much anticipated Kintsugi testnet, which will replace Ethereum&#039;s proof of work consensus by introducing a proof of stake mechanism.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/ethereum-foundation-announces-the-launch-of-the-kintsugi-testnet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Foundation announces the launch of the Kintsugi testnet\" \/>\n<meta property=\"og:description\" content=\"Ethereum Foundation has launched its much anticipated Kintsugi testnet, which will replace Ethereum&#039;s proof of work consensus by introducing a proof of stake mechanism.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/ethereum-foundation-announces-the-launch-of-the-kintsugi-testnet\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-21T11:15:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-21T11:04:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/12\/ethereum-kintsugi.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Juhi Mirza\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Juhi Mirza\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/ethereum-foundation-announces-the-launch-of-the-kintsugi-testnet\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/ethereum-foundation-announces-the-launch-of-the-kintsugi-testnet\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/#person\",\"name\":\"Juhi Mirza\",\"url\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/juhi-mirza-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/juhi-mirza-author-300x300.jpg\",\"caption\":\"Juhi Mirza\"},\"description\":\"Juhi Mirza is an archaeology major who is obsessive about blockchain\/Crypto technology and deems it to be the foundational philosophy of the future. 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