The Ethereum blockchain‘s public testnet will be introduced next week. According to the creators, this will be the final test before moving to the PoS mining method.
According to one of the Ethereum Foundation’s officials, the test network will be launched once the essential software, tools, and documentation are ready. At the same time, Kiln will be released with all of the necessary v2 requirements.
Users will be able to test the stability of the Ethereum 2.0 blockchain as a result of this. Furthermore, developers will be able to validate the dependability of the generated program.
Kiln will be operational for around three months. Thus, the Ethereum Foundation anticipates upgrading the blockchain to Ethereum 2.0 this summer. After that, miners will stop mining ETH, and only stakeholders will add blocks to the blockchain. As a result, all apps and the blockchain will be as environmentally friendly as possible.
In addition, the yearly inflation rate of the Ethereum cryptocurrency will be decreased from 4% to 1%. This will increase the value of ETH coins, making them more costly and appealing for investment. With this in mind, analysts consider Ethereum 2.0 the most significant network improvement since 2015.