The Bellatrix upgrade has been activated by Ethereum, the blockchain network. This is the last change before The Merge (the highly anticipated transformation from proof-of work (PoW), to proof-ofstake (PoS)). Bellatrix has been successfully integrated into the codebase. Vitalik Buterin (Ethernet co-founder) explained it was crucial for participants in the network to upgrade their clients at epoch 140,896.
From Bellatrix to Paris — Ethereum Participants Get Ready for the Final Step of the Merge
The Merge is estimated to take place on September 13, 2022, according to the wenmerge.com countdown, which notes there’s a hair over seven days left until the ruleset change. The final step before The Merge is next week was the Bellatrix update, which Ethereum developers applied on September 6.
Ethereum’s co-founder Vitalik Buterin spoke about Bellatrix and The Merge date on Twitter on Tuesday. “[The Merge] is still expected to happen around Sep 13-15,” Buterin wrote. “What’s happening today is the Bellatrix hard fork, which *prepares* the chain for the merge. Still important though – make sure to update your clients,” the software developer added.
Buterin shared the following: tweet showing that Bellatrix was implemented and the next step will be the network’s PoS transition. The Paris upgrade, which effectively launches The Merge, is the next step after Bellatrix. After that, ethereum-ETH (ETH), miners won’t be able validate transactions nor reap the block rewards.
Paris will execute upon hitting a Total Terminal Difficulty (TTD) value on the execution layer, which will be 58750000000000000000000. The Ethereum Foundation has summarized what will happen after Paris triggers The Merge and notes that “the subsequent block will be produced by a Beacon Chain validator.” The Ethereum Foundation adds:
“The Merge transition is considered complete once the Beacon Chain finalizes this block. Under normal network conditions, this will happen 2 epochs (or ~13 minutes) after the first post-TTD block is produced.”
Since Bellatrix was added, ethereum’s price has jumped 5.7% higher against the U.S. dollar and the crypto asset has been nearing the $1,700 per unit range. So far, ETH tapped a September 6 high at $1,682.26 per unit and there’s $17.03 billion in global ETH trade volume.
Moreover, ETH dominance is increasing while BTC dominance is decreasing by a small percentage. At the time of writing BTC dominance is 36.4% while ETH’s dominance is hovering around 19.2% on Tuesday.
Let us know your thoughts on the Bellatrix upgrade completion and the Paris upgrade. Please comment below to let us know your thoughts on this topic.
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