Ethereum 2.0 Testnet Suffers Outage
Earlier this month, Ethereum developers rolled out the final public testnet for the long-awaited ETH2 upgrade. The upgrade, which will be rolled out in multiple parts over a year or 2, is set to change how ETH operates; with ETH2, staking and sharding will be implemented, allowing for a network that should is faster and more decentralized.
The testnet has been dubbed “Medalla,” and it operated fine for a number of days.
On August 14th, though, reports began to spread online that something went wrong with Medalla.
In a post that rose quickly to the top of the Ethereum subreddit, a user shared the chart below. It shows that the “participation rate” of Ethereum validator nodes, which earn rewards for “staking” their coins, had plunged from ~75% to ~5%, then to 0%.
It was later explained by Preston Van Loon of Pryismatic Labs that there was an outage due to a bug in how Prysm clients track time:
Fixes have since been implemented, though developers are still trying to find the root cause of the event. It’s important to note that this is just an issue with one client, but since it was the most-adopted client, most validators were affected.
What’s Next for ETH?
In terms of ETH’s price action, analysts think there is heavy resistance ahead but remain cautiously optimistic. As reported by Bitcoinist previously, one trader said on the matter:
Image Courtesy of Cactus. Chart via TradingView.
At the end of the day, though, Ethereum may just follow the directionality of Bitcoin.
Photo by Florian Olivo on Unsplash Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Ethereum Price Falters Around $430 as ETH2 Testnet Experiences Outage
Originally from Bitcoinist.com https://ift.tt/2Q0mrpm
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