Ethereum’s Topaz Testing Network Reaches 1 Million ETH

The Ethereum platform test network, which is running a version of the Ethereum 2.0 update, has reached a major milestone, Topaz, the Prysmatic Labs test network. It currently has 29,300 validators with over 1 million ETH.

Ethereum is the second largest Blockchain by market capitalization. It is undergoing a complex upgrade to make it more scalable, allowing it to process more transactions.

It will also change its consensus mechanism, moving to the participation test, in which users „put their funds into play“ while keeping the network running.

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Topaz reaches a new milestone
Currently the latest version of the Ethereum update, known as june last year, safe harbor proposal, at least two, the seven pillars of ico investing, primavera de filippi, saw a bearish crossover, followed next week, thomas mario costanzo, spongebob squarepants-inspired technology, discussed last week 2.0, is in its testing phase. Therefore, there are multiple versions of the test network, including the Topaz version.

As such, Prystmatic Labs, which has received funding from both Ethereum co-founder Vitalik Buterin and the Ethereum community fund, launched its testnet on April 14.

In this way, support for the network has continued to grow. At the end of April, the cryptographic exchange, OKEx, became one of the network’s validators, betting its Ethereum (ETH) to keep the test network up and running.

„We are delighted to see the amount of community support and activity in Topaz. This is the first large scale Ethereum 2.0 test network where the community controls the majority of the validators“. He told Decrypt Preston Van Loon, CEO of Prysmatic Labs.

He added, „Topaz is a full-scale testing network that works primarily with Prysmatic Labs‘ Prysm nodes. The milestone of 1MM ETH with high stability rates gives us confidence that ETH2 can handle this level of activity when Phase 0 is launched later this year.

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The Topaz Test Network
Two years ago, Prysmatic Labs started the implementation of the Ethereum 2.0 with three major milestones: Ruby, Sapphire and Diamond.

„These milestones embodied our vision of how we wanted to help bring the Ethereum to a global scale.

Prysmatic Labs Team
On April 14 of this year they announced their latest restart plan for phase 0 of Ethereum 2.0: The Topaz Test Network. This makes the Topaz Test Network unique, as it represents the complete configuration of the main network of Ethereum 2.0 Phase 0.

In the previous test network, Sapphire, the team targeted the scale of the main network using smaller deposits of 3.2 ETH. For Topaz, validators will have to deposit the full 32 ETHs in the Goerli ETH1 test network to participate. To remain true to the original vision of the project.