Deposit contract and first backbone element of Ethereum proof-of-stake infrastructure smashes through another crucial milestone
The deposit contract of Proof-of-Stake Ethereum (ETH) registers an impressive new milestone as its community inches closer to the last pre-merge testnet.
10 million ETH now locked in deposit contract
Today, on March 10, 2022, Ethereum (ETH) community enthusiasts are celebrating an amazing milestone in its Proof-of-Stake deposit contract.
👨🏻💻 pic.twitter.com/SjLXew20Cy
— rliriano❤️🇺🇦 (@rliriano) March 10, 2022
The first deposit contract of the new Ethereum (ETH) now holds over 10 million Ethers (ETH) on its balance. The USD-denominated value of the contract, therefore, eclipses $26 billion.
As such, the lion’s share of the entire circulating supply of the second cryptocurrency is locked into this contract. However, some automated trackers (e.g., Beaconscan) display that this milestone is yet to come.
On Nov. 23, 2020, the Ethereum 2.0 deposit contract was launched as the building block of its ecosystem.
Final pre-merge testnet, Kiln, goes live
In light of this milestone, Ethereum (ETH) developers accelerated the testing of the upcoming Proof-of-Stake mechanism of Ethereum.
It’s time to get #TestingTheMerge going again! We spun up the Kiln 🧱🔥 testnet to test #Ethereum‘s upcoming move to proof-of-stake (this should be the final testnet before we start merging Ropsten, Rinkeby, Goerli, etc).
This thread explains how *YOU* can get involved 🚀🚀🚀 pic.twitter.com/XthSZN8L2e
— MariusVanDerWijden (@vdWijden) March 10, 2022
Kiln, the last pre-merge testnet, has launched, as reported by Ethereum developer Marius van der Wijden. Once its testing is completed, Ethereum devs will start merging “real-life” mainstream testnets Ropsten, Rinkeby and Goerli.
Enthusiasts are invited to experiment with the opportunities opened by the new testnet: they even can try deploying dApps and DeFis to Kiln.