On Tuesday, September 6, the Bellatrix update for the Ethereum network was rolled out. The update took place at epoch 144,896, marking an important step towards the long-awaited blockchain merger.
Prysmatic Labs developer Terence Tsao and EthHub co-founder Anthony were quick to tweet about the successful activation.
Sassano (Anthony Sassano).
Next stop: the merge
See you on the other side pic.twitter.com/01FCSDyqs5
— terence.eth (@terencechain) September 6, 2022
The transition of Ethereum to the Proof-of-Stake (PoS) algorithm will take place in two stages. Bellatrix was the first step. Then, after the launch of the Paris update, Ethereum will start producing blocks using the PoS consensus method – as soon as the total terminal difficulty reaches 5875000000000000000000000. A lot depends on the network hashrate. The developers estimate that the update will be launched around September 15th.
According to the contrary
countdown Blocknative, the merger is due to close in seven and a half days, on September 14th.
The launch of Bellatrix had a beneficial effect on the ETH rate. It is up 6.5% and Ethereum is now trading above $1,680 per coin. Analysts expect that the move to PoS will give Ethereum an additional boost, and this could be the beginning of a bullish trend in the cryptocurrency market.
However, not all node operators have made the necessary changes to prepare for the merge. By
data EtherNodes, only 26.7% of the operators were able to synchronize with the chain. Node operators were asked to upgrade their clients to epoch 144,896. Earlier, Ethereum co-founder Vitalik reminded about this.
Buterin and Ethereum core developer
Tim Beiko (Tim Beiko).
Meanwhile, trading platforms FTX and Binance have suspended deposits and withdrawals of Ethereum and ERC-20 tokens during the Ethereum network merge to ensure the safety of user funds.