Ethereum Devs to Launch New Testnet as Speculators Pump gETH

Автор admin Опубликовано Фев 28, 2023

iHodl.com

Ethereum developers are planning to launch a new testnet sometime this year as Goerli’s native testnet token goerli ETH (gETH) has become a target number one for market speculators.

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Tim Beiko, a key developer for Ethereum, said in a Twitter thread the community is set to roll out a new testnet called Holli later this year. The new network is expected to solve issues around acquiring testnet tokens.

As of press time, gETH is trading at $0.28 against wrapped ether (wETH). However, on February 26, the pair gETH/wETH reached an all-time high at $1.59 as speculators rushed to capitalize on the new cross-chain bridge developed by LayerZaro Labs.

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The testnet bridge creates a way to connect open markets for immediate pricing of ETH/gETH. Before the bridge, Ethereum developers had to ask Ethereum developers directly to get free testnet tokens as faucets only distribute a tiny amount of gETH.

Ethereum test networks are used by blockchain developers to build smart contracts and test upgrades before deploying them on mainnet. Currently, only two testnets are supported by blockchain providers: Goerli and Sepolia.

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