Ethereum 2.0 Phase 0 Testnet to be Launched

Coin transfer option is not available to users, there are no smart contracts and functionality associated with the Ethereum virtual machine
08 May 2019   592

Prysmatic Labs has launched a test network for Ethereum 2.0 based on the Casper PoS protocol with staking support. The developers implemented the fourth version of the specifications for the main chain from the Ethereum Research team.

So, in order to run the validating node, you need to install the Prysm client, which is the only one for this network, and create a steak by sending Goerli testnet coins (3.2 ETH) to the new network.

Note that at the moment a limited number of validators can participate in the network. Also, the coin transfer option is not available to users, there are no smart contracts and functionality associated with the Ethereum virtual machine.

Earlier Buterin announced the Ethereum 2.0 or Serenity. This upgrade involves a transition to the Proof-Of-Stake (Casper) algorithm, the implementation of sharding (multiple parallel chains connected to the main one, for executing various smart contracts and ensuring decentralized applications), updating the virtual machine (EWASM), changing the cross-contract logic and economics of the protocol.

SK Group to Invest $10M in ConsenSys

SK Group chairman and the 3rd most wealthy man in country believes digital technologies will play an important role in the further development of the company
03 July 2019   358

SK Group has invested $ 10 million in leading Ethereum-based solutions developer ConsenSys. This is reported by the local news agency Chosun.

As noted, in his today's speech at the technology event in Seoul, the chairman of the board of SK Group and the owner of the third largest fortune ($ 3.4 billion) in South Korea Chey Tae-won expressed his interest in the blockchain technology and the tokenized economy, expressing also the opinion about the need for digitalization of approaches practiced by traditional businesses.

According to him, digital technologies will play an important role in the further development of the SK Group.

It is also reported that in February of this year, the telecommunications division of the conglomerate SK Telecom entered into a partnership agreement with Deutsche Telekom to create a blockchain solution for customer identification.

In April of this year, the media passed information that ConsenSys is going to attract $ 200 million in funding from outside investors with a market valuation of $ 1 billion. To this end, the company began distributing presentation materials to Chinese investors. They say that ConsenSys expects to receive $ 50 million in revenue this year, mainly due to contracts with corporate clients and government agencies.