With Ethereum’s price almost touching the key resistance figure of $400, it is unknown if this new momentum would pivot the price above the level.
As the public testnet is about to be launched, the community members have launched a group on Reddit going by the name Ethstaker and have already begun the countdown to the launch time.
Ethereum members create a group for iconic ETH 2.0 Testnet
The new ETH 2.0 Testnet is called Medalla and is iconic to the Ethereum developers as it has some symbolic representation of the previously launched testnet.
It should be noted that individuals that constitute this kind of group have their access to first-hand information. Furthermore, the group will have versatile individuals sharing their wealth of wisdom on how to get a stake in the newly Medalla testnet launch.
Going by the official published records, Medalla, which is the Spanish word for Medal, is used as a reference to the testnet that was used for the launch of ETH 1.0.
Today, the first testnet, called “Olympic,” was launched by the Ethereum developers. According to a blog post by the lead developer of the project, Danny Ryan, he emphasized that the total amount of validators needed, 16,384, was reached on Friday.
ETH 2.0 Testnet launch not to use real ETH tokens
The protocol developer of the project, Terence Tsao, also noted that the Genesis state was achieved with nothing less than 20,000 validators. Furthermore, the team has said that Medalla would not use real ETH tokens because it is a simulation but will use the GöETH (Göerli testnet ETH).
According to the team of developers, Medalla will Mark the final phase of the upgrade that was launched in the early parts of the year.
Around April, 3.2 ETH were sent into the Sapphire testnet, which signaled a start for the company on proof of stake blockchain. Following that, Prysmatic Labs debuted Topaz, the next testnet towards the end of April, which validated 32 full nodes.
With the ETH 2.0 Testnet launch scheduled to happen today, Ethereum might use the hype around it to break past the $400 psychological resistance.