Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Those keeping tabs on the crypto market will likely have heard the term “Ethereum 2.0” (or Eth2) being thrown around. As the name suggests, Ethereum 2.0 is an overhaul of the existing Ethereum network, intended to boost scalability and security on the network. A critical part of the path towards Ethereum 2.0 is the “Zinken testnet”, which went live on October 12th, at 12 PM UTC. However, what is the Zinken testnet exactly?
To put it simply, Zinken is an Ethereum 2.0 testnet intended to practice a mainnet launch. It can be seen as a “dry run” for an Ethereum 2.0 mainnet and is essential to complete before Ethereum 2.0 goes live and starts supporting substantial economic value.
Although the existing Ethereum network has served a real value, it is becoming increasingly apparent that Ethereum needs improvements to support higher volumes of users. This is becoming more pronounced than ever, as Ethereum adoption keeps increasing.