CryptoLocally Adds Ethereum as ETH 2.0 Testnet Approaches

Peer-to-Peer Trading Platform CryptoLocally has added Ethereum tokens-ETH, DAI, USDT, to provide customers with” very best cryptocurrency trading experience.”

The move came as Ethereum announced the final testnet for Ethereum 2.0 will be on 4 August.

The CryptoLocally made its announcement on its blog on Medium on 21 July.

First Ethereum cryptocurrencies on CryptoLocally

Adding ETH, USDT (ERC-20), and DAI make them the first native Ethereum cryptocurrencies listed on the platform.

The trading of three tokens will be with the users’ local currencies. 

CryptoLocally highlighted that with the forthcoming release of ETH 2.0Ethereum is poised to address many of its challenges.”

Therefore, it will make it more scalable for mass adoption and more cost-efficient. 

ETH 2.0 holders can participate in consensus activities by staking their ETH to help secure the network and get rewards accordingly.

The users will have options of “using two types of ETH (Native or BEP-2) and three types of USDT (ERC-20, TRC-20, or EOS),” the platform noted. 

Furthermore, the platform said it has chosen “ETH because it is currently the second-largest crypto based on market cap.” 

The platform vowed to provide “the easiest, simplest, and most inclusive access for everyone to trade Ethereum-based digital assets.”

The Ethereum Foundation is a non-profit organisation that supports Ethereum cryptocurrency and blockchain platform for decentralised applications.

The Ethereum is available for everyone across the world and based on the use of tokens. There are many cryptocurrencies and tokens on Ethereum.

However, ETH is considered “the lifeblood of Ethereum.”

Ethereum 2.0 anticipated 

Last week, Ethereum Core developer, Danny Ryan announced the final testnet launch for Ethereum 2.0 on 4 August.

“After discussions with client teams, the next multi-client testnet (mainnet config including min validator numbers) will have a min genesis time of August 4th,” he said

Earlier in June, Ryan made updates over the ETH 2.0 in a post on Ethereum blog.

Ryan said that the ETH 2.0 aims “to be a more secure and scalable context for the current Ethereum mainnet.”

Moreover, he added that users have the freedom to get involved with staking in Phase 0, or can wait “until Ethereum fully migrates into ETH 2.0 at Phase 1.5.”

In the meantime, Justin Drake, a researcher at the Ethereum Foundation also commented and tweeted in May that they “could have launched a year or two earlier the easy way. It was painful but it was right. Our investments will pay off for decades.” 

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Fatma Lotfi 11 Articles
Egyptian bilingual journalist with six years of experience in print and digital journalism, focusing on various beats, including tech, cryptocurrencies, and finance.