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Blog

Date:
14th Oct 2020
Author:
CryptoAltum Research Team

The Zinken Testnet for Eth2 Launched Smoothly

The Zinken test network, described as the last “dress rehearsal” before the announcement of the Beacon Chain mainnet activation, was successfully activated on Oct 12, Danny Ryan--a developer with the Ethereum Foundation, has revealed. Over 2,856 active validators and more than 91,382 test ETH were deposited, activating the multi-client test network.


Details: 

Spadina flopped. The Zinken Test network is the last trial before the genesis date of the Beacon Chain mainnet is set. Since the launch was smooth, effectively ironing out issues experienced in Spadina, ETH holders and the wider Ethereum community are positive the activation to the Beacon Chain mainnet enabling staking will be smoothly executed at a tentative time within the next four months.


Impact on the ETH Price:

Bullish. As Ethereum developers ramp up Eth1 scaling solutions, the concurrent development and smooth execution of critical Eth2 trials is massive for ETH price. What remains is the announcement of the Genesis date for staking allowing prospective validators to lock in ETH and earn near risk-free rewards. 


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