Last Updated on September 6, 2022 by Bitfinsider
The Beacon chain has received the Bellatrix upgrade. Before the Ethereum merging is finished the following week, it is the final upgrade. Ethereum prices have increased by about 7% in anticipation of the Bellatrix update. At the time of writing, it is worth $1,688.
Before the final Paris update, which will complete the merging, comes the Bellatrix upgrade. The improvement was planned for a beacon chain epoch height of 144,896.
The change from proof-of-work to proof-of-stake as the Ethereum blockchain’s consensus method is known as the Ethereum merge. Proof-of-work uses a mining process that consumes a lot of energy to validate transactions. With the proof-of-stake system, validators take the position of miners.
The consensus layer and the proof-of-work layer make up Ethereum at the moment. The two layers will be combined during the merging, which will also put a stop to the blockchain’s proof-of-work system. Blocks with proof-of-stake can be generated by validator nodes thanks to the Bellatrix upgrade. The merge’s code will be in the blocks.
It appears that the Bellatrix upgrade was successful. Following the Bellatrix upgrade, the network participation percentage was 94.94%. Following the upgrade, more offline validators were used. That, however, is simply a result of certain validators not upgrading their nodes in order to be prepared for the upgrade.
What Happens After The Ethereum Merges?
The Paris improvement will complete the merger. The Terminal Total Difficulty will be the point at which that upgrade becomes active. The Paris upgrade also addresses the execution layer and ends mining on the Ethereum network. The merge will be completed sometime next week, but the precise time will depend on the hash rate.
Following the Bellatrix upgrade, the core developer team will be alert for any unusual behavior. While waiting for the merger, ETH investors would like to see the cryptocurrency maintain its upward bullish trend.
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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.
