The Ethereum Foundation announced the successful merging of the “Kiln” testnet ahead of the much-anticipated Ethereum’s move from Proof of Work (PoW) to Proof of Stake (PoS). Vitalik Buterin, Ethereum’s co-founder, has turned to Twitter to offer thoughts on EIP-4844, where he introduced a new concept called “Proto-danksharding,” which is a key aspect of the PoS network.
Buterin’s planned Proto-Danksharding will replace the “merged fee market,” in which one network proposer decides all transactions and all data fits into one slot, rather than having independent proposers for each shard. Because it involves the implementation of some danksharding parts, Buterin’s proposal in EIP-4844 can be considered an interim option. However, because pro-danksharding necessitates a substantially larger block size, it is predicted to result in increased data usage.
To address this flaw, Vitalik Buterin introduced a method in his proposal that deletes blob data automatically every 30 days. As a result, the network’s data and memory storage requirements will be reduced. The Ethereum network is getting closer to the “merge,” or the entire transition to proof-of-stake consensus. According to U. Kiln, a multi-client testnet was unveiled by Ethereum (ETH) developers earlier today.
Before the merge process, Kiln will be the last multi-client testnet. It is aimed at stress testing Ethereum’s (ETH) potential by simulating “real-world” criteria. The deposit contract for Ethereum has crossed the ten million Ethereum staked mark. Its current worth exceeds $30 billion, which is equal to the combined market capitalization of the top ten cryptocurrencies.