- The Zhejiang testnet is set to go live today ahead of the Shanghai upgrade.
- This testnet will help practice the simulation of staked Ethereum withdrawals.
The Ethereum developers are on track to launch “Zhejiang”, a testnet environment that will help prepare the broader community members ahead of the launch of the Shanghai Hardfork billed to go live later this month. As reported by Coindesk, the Zhejiang public testnet is scheduled to go live on February 1 at 15:00 UTC.
Testnets are very important in the launch of new products on a public blockchain. The testnet environment is supported by the main chains. They are used to test-run any feature, products, or improvements that are on track to be launched on the parent blockchain at a later time.
With the Ethereum Improvement Proposal (EIP)- 4895 which will allow the withdrawal of staked Ether set to be infused into the Shanghai upgrade, the need for Zhejiang has been further highlighted. Once live, users will be able to try out how the withdrawal of stake Ethereum will take place once the feature is activated.
This will enable both the Ethereum developers and the community to expand work on what needs to be done. The developers will be able to improve the user experience, correct any bugs flagged and reposition the underlying fundamentals that will ensure the Shanghai Hardfork is implemented without hassles.
While the testnet is on track to be launched as noted, users will have to wait until February 7 before they can try out the withdrawal feature. By February 7, the Zhejiang testnet will undergo an update that will make the withdrawal possible. However, when the testnet goes live, interested users can deposit ETH to validators on the testnet, and then withdraw them by the coming week when the update has been completed.
Ethereum and the new PoS era
The Ethereum protocol is notably pushing forth its own boundaries with its transition from the Proof-of-Work (PoW) consensus model to Proof-of-Stake (PoS) after the Merge event that went live last year.
The transition spelled a very remarkable turn that saw the energy consumption by its nodes reduce by as much as 99 percent. Ethereum was always bantered alongside Bitcoin (BTC) for its contributions to climate change. While energy consumption was the most visible improvement at this time, the Ethereum protocol is billed to record significant scalability upgrades in the near future.
Following the Merge, Ethereum is still on track to welcome significant upgrades including the surge, the verge, the purge, and the splurge.
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By the time all of these network upgrades, Ethereum would have undergone a unique clean up, and evolution which will make it retain its relevance as the biggest hub for Decentralized Finance (DeFi) applications and smart contracts in the blockchain world.
As noted, each of these further upgrades is billed to be ushered in through a testnet that will be introduced at a later date. Each of these upgrades is billed as fitting to foster ecosystem growth as well as serving as a major push for the price of Ether, the network’s native token.
