{"id":14006,"date":"2019-05-09T00:00:00","date_gmt":"2019-05-09T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2019\/05\/09\/ethereum-eth-prysmatic-labs-launches-ethereum-2-0-phase-0-on-testnet\/"},"modified":"2019-05-09T00:00:00","modified_gmt":"2019-05-09T00:00:00","slug":"ethereum-eth-prysmatic-labs-launches-ethereum-2-0-phase-0-on-testnet","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/ethereum-eth-prysmatic-labs-launches-ethereum-2-0-phase-0-on-testnet\/","title":{"rendered":"Ethereum [ETH] \u2013 Prysmatic Labs Launches Ethereum 2.0 Phase 0 on Testnet"},"content":{"rendered":"
Work on the proposed Proof of Stake (PoS) Ethereum<\/a> <\/strong>Mainnet implementation is chugging along swiftly following the launch of Prysmatic Labs\u2019 version 0 on the Proof of Authority G\u00f6rli (Goerli)<\/strong> testnet.<\/p>\n Announced this week by Prysmatic Labs co-founder Preston Van Loon<\/strong>, the new Ethereum 2.0 Beacon Chain alpha<\/strong> version will be available to the public for stress testing. According to Van Loon,<\/p>\n \u201cTestnet is publicly accessible and NOT a simulation. We provide a cloud cluster of nodes that participate in consensus but anyone can participate in maintaining the network alive.\u201d<\/em><\/p>\n This means that anyone can now run the testnet node and stake testnet coins for the period that it will be available for testing.<\/p>\n The Ethereum 2.0 network upgrade will help Ethereum migrate from its currently Proof of Work consensus mechanism that is hardly scalable and often prone to security incidents to the less secure but more scalable Proof of Stake consensus mechanism that involves staking Ethereum coins in order to qualify and verify transactions. According to Vitalik Buterin<\/a><\/strong>, the creator of Ethereum, validators (stakers) will earn a reward of between 5-6% annually for their staked sums.<\/p>\n <\/a><\/p>\nHow Ethereum 2.0 will be implemented<\/strong><\/h2>\n