LayerZero launched a testnet bridge that allows users to swap mainnet ETH for Goerli ETH (GoETH), which led to a sudden emergence of a liquid market for GoETH tokens.
This was a hugely controversial decision, as many in the Ethereum community believe that testnet tokens should remain free.
At ETH Denver, Laura moderated a panel discussion about this hot topic with Bryan Pellegrino, cofounder and CEO of LayerZero Labs, Greg Markou, founder of Chainsafe and Matt Garnett, software engineer for the Ethereum Foundation.
Show highlights:
why LazerZero launched a testnet bridge for Goerli ETH (GoETH)
the three reasons why Greg is opposed to Goerli ETH having a price
why Bryan believes it is impossible for a permissionless testnet to have free tokens
the three types of constituencies that use testnets
whether the Sepolia testnet solves the issues with Goerli
the upcoming Holli testnet and the problems it aims to solve
how to create a permissionless testnet that takes into account the needs of developers from all over the world
whether LayerZero’s move will create more problems in the future
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Panel
Bryan Pellegrino, cofounder and CEO of LayerZero Labs.
Greg Markou, founder of Chainsafe
Matt Garnett, software engineer for the Ethereum Foundation
Links:
Unchained: Goerli Testnet ETH Is Now Being Monetized
CoinDesk: Start of the End? Testnet Goerli Ether Spikes to $1.60 as Traders Jump on Opportunity Meant for Developers
LayerZero blog post: Public Goods by LayerZero.
Alchemy: What is the Sepolia testnet?
Ethereum (ETH) Developer Announces Plan To Launch New ‘Holli’ Testnet Later This Year
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
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