Ethereum has launched the Kintsugi public testnet. The test network is intended for users who want to try Ethereum 2.0 before the final protocol switch from proof-of-work to proof-of-stake.
Kintsugi is a Japanese art of repairing broken pottery with gold, silver, or platinum and precious jewels. The process is not only about repairing a broken object but also about appreciating and understanding the history of an object.
The healing process of Kintsugi helps an object to become more whole again. Moreover, this technique also helps us to understand the history of an object.
The Kintsugi technique has been adopted by many companies who want to enhance the value of their products. They follow these techniques while designing products so they can create something that will last forever without having to worry about breaking again in the future.
The Ethereum Foundation also intends to convert the ETH blockchain to a proof-of-stake system. Instead of the present proof-of-work consensus, this one uses token-locking validators to verify transactions and sustain the network. It’s worth remembering that in the past, only developers had access to test networks.
Explore Ethereum’s future
Kintsugi is a platform where anybody may experiment with Ethereum and observe how the network will function when the modifications are made. This might include putting Decentralized Finance (DeFi) solutions to the test, which depend on smart contracts to provide innovative financial services.
The change follows a roughly year-long migration to Ethereum 2.0. Following Phase 0 of the Beacon Chain last year, four so-called devnets were established. The Beacon Chain has already amassed billions of dollars in assets as seen by statistics from the Dune Analytics analytics tool. It operates independently of the existing Ethereum network, although the two will ultimately be linked.
Kintsugi is scheduled to operate until it and other test networks acquire stability, after which it will be upgraded to Eth 2.0.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.