Ethereum 2 Beacon Chain to be launched soon

  • Ethereum 2 beacon chain has been tested for over nine months
  • Its Mainnet would have a penalty and reward feature. 
  • Developers to avoid domination of one client implementation 

Ethereum 2 Beacon chain would soon be launched for public use; this was made known by Ben Edgington, a writer on popular Cryptocurrency news site, Coindesk, where he advises on Ethereum 2.0 across ConsenSys.

Ben made it known that the chain has been under testing for the best part of the last nine months with different client networks named after subway stations. Ethereum’s testnet has a tradition of naming its systems after subway stations, and all of those networks maintained that tradition.

Presently, the biggest amongst the Ethereum 2 Beacon chain testnet is the one named after a subway station in Buenos Aires, Argentina; Medalla testnet.

The Medalla testnet has been running for the past two months now and has had four different client implementations, with over 50,000 participants actively trying to validate the network. The above makes the testnet one of the most effective decentralized systems currently running and in existence in the world.

The Medalla testnet has also faced different challenges, and in recent times, its clients had faced an issue of grave importance that halted works on the network for a few days. However, the problems were corrected, and the chain was able to operate optimally again.

One of the lessons that the disruption taught developers was that no single client should let its implementation overshadow others’ works. It would only result in further future disruption. This prompted Danny Ryan to advise that such scenarios be avoided, and intentional decisions have to be made to prevent a recurrence.

Mainnet of Ethereum 2 Beacon chain to have a penalty and reward feature 

Ethereum 2 Beacon Chain will have a feature that penalizes and rewards users based on their following laid-down rules and regulations. 

The Ethereum 2 beacon chain’s rewards would entice DeFi users despite the absence of tips and the DeFi industry’s crash. Meanwhile, the penalties can be avoided as long as the network validator is successfully kept online for the most time the network runs.

Kamsi King

Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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