Increased 7 times in 3 days, can GETH, Goerli’s test currency, still get on the bus?
Last week, the full-chain interoperability agreementLayerZeroIn order to help developers obtain enough GOERLI-ETH (GETH) test coins, an ETH/GETH instant pricing trading market was created. Unexpectedly, this move has inspired a hype boom for GETH. (Related reading: Can the test coin GETH be sold? I still don't make money?）
According to the data, the initial price of GETH launched on February 22 was $0.1, and it fell to $0.05 on that day; in the past five days, its price once soared to $0.42, with a maximum increase of 740%, and was temporarily reported at $0.35. LayerZero’s Testnet Bridge TVL has surged. Currently, there are 51.5 ETH and about 250,000 GETH in the main network pool; 37.26 METH and nearly 190,000 GETH in the test network. (Note: ETH and METH are exchanged 1:1.)
In addition, NFTs on the Goerli testnet have also become popular. According to OpenSea Testnets data, the floor price of the Goerli testnet version "Boring Ape" (BAYC) also rose from 1.3 GETH to 45 GETH, and the total transaction volume reached 59,325 GETH; 99% of the transaction volume occurred on February 26 and 27. sky. The situation of several other well-known NFT projects (AZUKI, MAYC) on the Goerli testnet version is basically similar.
In fact, before the emergence of Testnet Bridge, some centralized platforms (Lbank) and decentralized platforms (faucetdao) provided GETH purchase channels, but none of them caused a big wave. The GETH hype this time, in addition to the help of Testnet Bridge, is likely to be related to the Layer 2 network Base launched by Coinbase last week. according toBaseAccording to the development document, it will use the Goerli test network and GETH for testing during the testing phase; currently, the Base market is highly concerned, and even GETH has become the focus of speculation.
Here comes the question, is the current GETH suitable for continuing to catch up? To answer this question, we first need to clarify the "actual function" of the Goerli testnet.
The Goerli testnet is the first POA (Proof-Of-Authority) cross-client testnet. It is community-based and fully open source. It was born during ETHBerlin in September 2018, and the number of contributors has continued to grow since then. Before the merger of Ethereum last year, testnets such as Rinkeby and Ropsten were closed one after another, and Goerli, as the test environment closest to the mainnet, became the only star testnet that was retained.
After upgrading to POS, another test network called Sepolia was born on Ethereum. Sepolia and Goerli form the only public testnet currently being maintained by client developers. However, there are significant differences between the two:
Sepolia: born late, with fewer deployed applications than other testnets; closed validator set (Closed validator set), controlled by customers and test teams; fast synchronization and running nodes require less disk space.
Goerli: Large state, which can be used to test complex smart contract interactions; open validator set, stakers can test network upgrades; longer synchronization time, more storage is required to run nodes.
Therefore, at present, all projects in the Ethereum ecosystem will undergo preliminary testing in Sepolia, and Goerli will be used as the official final test link, including the upcoming "Shanghai Upgrade".
As more and more developers and users use Goerli, many problems inevitably arise, the most obvious of which is the difficulty in obtaining the test coin GETH.
To this end, the core developer of Ethereum and the protocol engineering supervisor of the ChainSafe system「q 9 f」A proposal was put forward last year to develop a new test network after the test network has been running for four years (up to five years) to alleviate the overload of the old network.Ethereum official websiteEthereum official websiteimage description
(Ethereum official website)
After these two days of GETH hype, Ethereum core developer Tim Beiko posted: "The Goerli testnet will eventually be shut down. In the future, testnets including Sepolia can mint more ETH. I hope that the creation of the testnet will More addresses may be included in the file."
To sum up, although the Goerli test network has high use value at the current stage, it will be replaced soon; and the current GETH hype is overheated, and investors are easy to get caught up in chasing high prices, and avoid FOMO.
