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Ethereum developers have deployed the Holesky testnet to improve the testing capabilities of the ETH blockchain. The launch of the new testnet coincided with the one-year anniversary of The Merge, a landmark update that transitioned the Ethereum blockchain from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) model.
The largest public testnet in Ethereum's history, Holesky, is launching today!
— sassal.eth 🦇🔊 (@sassal0x) September 15, 2023
Monitor the launch here: https://t.co/NVcpgpKifT
Data from beaconcha.in revealed that the first block was proposed on the new Holesky testnet on Friday, 10 am ET As its name suggests, a testnet is a separate network where developers can freely test new features without impacting the live blockchain network, or the “mainnet.”
The Ethereum blockchain currently has two testnets: Goerli and Shapella. Initially named Holli, the Holesky testnet will address the scaling issues of Ethereum, with developers estimating the test network to support as many as 1.4M validators.
Developer Tim Beiko claimed that around 1.6B Holesky testnet Ether (HETH) tokens will be sent to validators to increase their participation in the Holesky testnet. The high scalability of the Holesky testnet will allow developers to test the upcoming Dencun update in a realistic environment.