Ethereum completes Bellatrix in final pre-integration update

Bellatrix is ​​the latest update to Ethereum before the “merger.”

Ethereum Bellatrix Live

Ethereum has just completed its final update prior to the “merger.”

The blockchain’s latest No. 2 hard fork, called Bellatrix, was launched at 144896 epoch on Tuesday, bringing the network one step closer to the long-awaited Merge upgrade.

The Ethereum merger occurs in two parts. Bellatrix was the first part and saw the network consensus layer, also known as Beacon Chain, being updated in preparation for the merger. The second part, called Paris, will see Ethereum start producing Proof of Stake blocks when the overall terminal difficulty threshold is reached. 5875 trillion trillion. The total final difficulty indicates the difficulty required to mine the final PoW block. Since it is affected by network hash rate fluctuation, it is still unclear when exactly the update will be sent. But current estimates place it somewhere between September 13-15.

The merger was promised for several years but was postponed on several occasions. However, as the event approaches, it has become a leading story driving market sentiment in recent months. After hitting an 18-month low in June after the Terra crash and the subsequent liquidity crunch at Three Arrows Capital, ETH surged more than 100% over the summer and briefly surpassed $2000 in mid-August. According to CoinGecko data, it is currently trading at $1,665, up 6.3% today.

In addition to ETH, several Ethereum-related coins have benefited from internal consolidation in recent weeks. They include Ethereum Classics Proof-of-Work ETC and Lido’s LDO. Perhaps the most discussed token that market consolidation speculators are looking for besides ETH, is ETHW – a new coin that will serve as the initial asset for the Ethereum network’s Proof of Work network. ETHW will be distributed to ETH holders after the merger, and while much of the Ethereum community is set to support the Proof-of-Stake upgrade, exchanges like Binance and FTX have confirmed their plans to make all successful coins available for trading.

According to Blocknative’s countdown clock, the merger is currently scheduled to complete as early as September 14, which is seven days from now.

Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.

Leave a Reply

Your email address will not be published.