#Ethereum launches #Holesky testing network, celebrating one year since transitioning from energy-intensive proof-of-work to proof-of-stake!

Ethereum developers launched a new testnet on Sept. 15. Called “Holesky,” the network is expected to be used for staking, infrastructure and protocol development, according to its developer documents. Sepolia will remain the dominant network for application development.

An initial supply of 1.6 billion Holesky testnet Ether (HETH) will be allocated to validators on Holesky’s launch day to bootstrap the network into operation, according to Ethereum developer Tim Beiko. This represents 10 times the amount of Ether $ETH present on mainnet. Beiko stated that developers were comfortable with producing this amount because “devnets [are] regularly using 10B supply.”