Blockchain network Ethereum, the last change before The Merge, the long-awaited transition from proof of work (PoW) to proof of stake (PoS) Bellatrix upgrade officially activated; Bellatrix was successfully codebased in the Beacon chain epoch 144,896, and Ethereum co-founder Vitalik Buterin detailed the importance of network participants updating their clients detailed that.
From Bellatrix to Paris – Ethereum participants prepare for the final step of the merge
wenmerge.com countdownestimates the merge will take place on September 13, 2022. It notes that the ruleset change is just over seven days away, and on September 6, ethereum developers implemented the Bellatrix upgrade, the final step before The Merge, which happens next week.
Vitalik Buterin, co-founder of Ethereum, spoke about Bellatrix and The Merge date on Twitter on Tuesday.” ‘The Merge’ is still expected to happen around September 13-15,” Buterin wrote. “What is happening today is a hard fork of Bellatrix, *preparing* the chain for the merge. But it’s still important – make sure you update your clients,” the software developer added.
Buterin also shared atweetindicating that Bellatrix has been implemented and the next step is a PoS migration of the network.The next step following Bellatrix is a Paris upgrade that will essentially start The Merge The next step after Bellatrix is the Paris upgrade, which will essentially launch The Merge. After that point, Ethereum (ETHminers will no longer be able to validate transactions and earn block rewards.
Paris will run when the execution layer’s TTD (Total Terminal Difficulty) value, 587500000000000000000, is reached. the Ethereum Foundation hassummarized what happens after Paris triggers The Mergesummary, noting that “subsequent blocks are generated by the Beacon Chain validator. “The Ethereum Foundation adds.
“Once the Beacon Chain confirms this block, the Merge transition is considered complete. Under normal network conditions, this occurs 2 epochs (or ~13 minutes) after the first post-TTD block is generated.”
Since Bellatrix was added, the price of Ethereum has jumped 5.7% higher against the USD, with the crypto asset approaching the $1,700 per unit range. So far,. the ETHhas hit a September 6 high at $1,682.26 per unit, and there is $17.03 billion in globaltrading volume; the ETHhas $17.03 billion in trading volume; the ETH
has $17.00 billion in trading volume; and the ETH
has $17.00 billion in trading volume.
Additionally, the dominance ofETHis increasing while the dominance ofBTCis decreasing by a few percent. At the time of writing, the dominance ofBTCis 36.4% while the dominance ofETHis hovering around 19.2% on Tuesday.
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