In the last pre-merger update, Ethereum completes Bellatrix
Share this article
Bellatrix is Ethereum's last update before the “merger”.
Ethereum Bellatrix Live
Ethereum has completed its final upgrade before the “merger”.
Bellatrix is awake! 🎉Next stop: See you on the other side of the merger💫 pic.twitter.com/01FCSDyqs5
— terence.eth (@terencechain) September 6, 2022
The number two blockchain's latest hardfork, dubbed Bellatrix, launched on Apr 144,896 on Tuesday, bringing the network one step closer to its long-awaited integration update. Prysmatic Labs developer Terence Tsao, The Daily Gwei host Anthony Sassano, and several other prominent members of the Ethereum community took to Twitter to celebrate the update's deployment.
The integration of Ethereum is carried out in two parts. Bellatrix was the first unit and saw an update as the network's consensus layer, otherwise known as the Beacon Chain, prepared for integration. The second phase, called Paris, will see Ethereum begin producing blocks at the proof-of-concept level when it reaches the total terminal difficulty level. 587500000000000000000000. The Total Terminal Difficulty refers to the difficulty required to mine the final Proof-of-Work block. As it is affected by the network's fluctuating hashrate, it is not yet clear when exactly the update will be sent. However, current estimates place it somewhere between September 13 and 15.
The merger has been promised for several years but has been delayed on several occasions. However, as the event approaches, market sentiment has become the leading narrative driver in recent months. After hitting 18-month lows in June on the back of Terra's collapse and the subsequent Three Arrows Capital liquidity crisis, ETH rallied more than 100% over the summer, briefly topping $2,000 in mid-August. According to CoinGecko, it is currently trading at $1,665, up 6.3% today.
In addition to ETH, several Ethereum-related tokens have benefited from the upcoming merger in recent weeks. They include Ethereum Classic Proof of Work ETC coin and Lido LDO. Perhaps the much-rumored market consolidation speculations are looking aside from ETH, however, ETHW—a new coin that serves as the native asset of the Ethereum network's proof-of-concept fork. ETHW will be distributed to ETH holders following the merger, and while most of the Ethereum community is ready to support the Proof-of-Stake upgrade, exchanges such as Binance and FTX have confirmed their plans to offer any successful fork tokens for trading.
According to Blocknet's countdown clock, the merger is currently completed as early as September 14, just over seven days away.
Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.
Share this article
The information on or included in this website is obtained from independent sources that we believe to be accurate and reliable, but we make no representations or warranties as to the timeliness, completeness or accuracy of any information on or accessible from this website. . Decentralized Media, Inc. Not an investment advisor. We do not provide personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may be out of date, or may be incomplete or incorrect. We may, but are not obligated to, update any outdated, incomplete or inaccurate information.
You should not make an investment decision in an ICO, IEO or other investment based on the information on this website and you should never interpret or rely on any information on this website as investment advice. If you are seeking investment advice on an ICO, IEO or other investment, we strongly recommend that you consult a licensed investment advisor or other qualified financial professional. We do not receive compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities or commodities.
See full terms and conditions.
