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Ethereum ‘Consolidated’ Moves Closer to Final Furnace Testnet Launch

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The much-anticipated ‘merge’ on the Ethereum network is one more step closer to becoming a reality after testing the final public network that Kiln launched to pass its paces.

On March 14, the Ethereum Foundation urge stakeholders in the network to run tests using Furnace “to ensure a smooth transition across existing public test networks.”

“We strongly recommend that developers run through a full test & deployment cycle on Kiln and report any issues with tools or dependencies to the maintainers of those projects. .”

Ethereum Developer Tim Beiko confirmed that Furnace is live and will soon be ready to merge with Beacon Chain in a tweet March 14. Testnet launched last weekend in Proof-of-work mode only.

The furnace is currently operating in a test state (PoW) testing environment for Ethereum developers, node operators and distributors. This is the last public test network before the entire network moves to proof of stake from PoW this year. The furnace will fully test the merge sometime this week.

Beiko told Cointelgraph today that launching Furnace “a week or so from launch to consolidation was definitely the intention.” He said Ethereum developers want to “give the community a chance to test their products through consolidation.”

The kiln is initial launched as a PoW test network that mimics the operating environment of the Ethereum network. It runs parallel to Signaling chainthe first major PoS component of Ethereum 2.0 (now known as the consensus layer), where ETH holders can stake their coins and begin to secure the future of the Ethereum network.

Ethereum’s (ETH) The mainnet transition from PoW to PoS will be an important milestone in the evolution of the network. This Ethereum’s next stage will allow the security of the blockchain to rely on staked tokens instead of expensive and power-hungry mining hardware.

Related: European Parliament votes against PoW ban, bringing major relief to crypto industry

The transition event of the network from PoW to PoS will Beacon chain mount with the Ethereum mainnet. Consolidation could happen as soon as this June according to an analysis from the crypto financial bulletin There is no bank although it is slated for Q1, 2022 on the official roadmap.

The 10 million ETH staked in Beacon Chain is currently earning around 4.8% per year for investors. After Consolidation, that yield could increase up to 15% and the network operating cost would be reduced to a fraction of its PoW predecessor Bankless.