Ethereum Testnet Launches Beacon Chain For ETH 2.0 Rehearsal – May 31

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $32,197

Bitcoin price has continued to advance over the last day of trading, as price breaks above the $32,000 mark in a show of strength.

Top-20 altcoins have also performed well again, as Ethereum and BNB each rise 3%, while Cardano advances an impressive 18% on the day.

Top Stories for May 31, 2022 πŸ”₯

πŸ‘‰ Ethereum Testnet Launches Beacon Chain For ETH 2.0 Rehearsal

Ethereum testnet, Ropsten, has launched the beacon chain for its upcoming Proof-of-Stake (PoS) merge test – the first “dress rehearsal” for the mainnet ETH 2.0 merge.

The practice merge is expected to take place in just over a weeks’ time, around June 8th. It will enable developers and node operators to conduct a live-action test of the first phase of the shift from a Proof-of-Work blockchain to the new PoS network.

Ropsten is Ethereum’s oldest Proof-of-Work testnet, with its launch all the way back to 2016.

πŸ‘‰ PayPal Ventures Makes Its First Layer 1 Blockchain Investment

PayPal Ventures has revealed its very first Layer 1 blockchain infrastructure investment, with a contirubtion to Aptos Labs’ $200 million funding round in March.

The Aptos team contains several of the original creators and developers of Meta’s Diem/Libra blockchain project, which was wound down earlier this year and sold to Silvergate Bank.

Other investors in Aptos included Andreessen Horowitz (a16z), Multicoin Capital, Katie Haun, Three Arrows Capital and more.

πŸ‘‰ Optimism’s OP Token To Expected To Hit The Market Today

Ethereum Layer 2 scaling network Optimism is expected to have its native OP token hit the market today, according to centralized exchanges. Several of the platforms have released blog posts announcing plans to list the token.

Optimism revealed its token and governance structure last month, with 5% of the total supply to be distributed to 231,000 different addresses that had previously participated in using the network.