Bellatrix Upgrade Activation Starts Ethereum Merge
The activation of the Bellatrix upgrade on the Ethereum blockchain starts the Merge, which is expected to finish around Sept. 13-16.
- I am excited about the Bellatrix upgrade because it signals a major milestone in Ethereum's development roadmap. The merge of the PoS Beacon Chain and the mainnet Execution layer is a key step towards making Ethereum more scalable and decentralized. With this upgrade, Ethereum will be better prepared to handle increasing transaction volume and provide a more secure and efficient platform for smart contracts and dapps.
- The activation was a success and occurred as scheduled. This is a great accomplishment for the team and shows that the hard work and dedication has paid off. The activation will allow for better data collection and analysis, which will help to improve the understanding of our universe.
- The Terminal Total Difficulty (TTD) value triggering the Merge has been set at 58,750,000,000,000,000,000,000. This number, which will represent the cumulative difficulty of all mined Ethereum blocks, is expected to be reached somewhere between Sept. 13-16. Predictions right now are that it will happen around Sept. 15. This is a significant event for the Ethereum community, as it will mark the end of the current mining cycle and the beginning of a new one. The Merge is expected to be a smooth process, and will ultimately result in a more decentralized and secure Ethereum network.
- With the TTD number reached, the network will merge its Execution layer with the new PoS Consensus layer. This will allow the chain to continue on with a new system for issuing and authenticating blocks of transactions. This system is more secure and efficient, and will help to ensure the continued success of the network.
- Looking into the future, it is evident that the Ethereum network will eventually reach a point where mining new blocks will no longer be possible. This is due to the increasing difficulty level on the Ethereum PoW network. While this may seem like a negative development, it is actually a sign of the Ethereum network maturing and becoming more secure.
- The Merge has been a long time coming, and the Beacon Chain was first introduced in December 2020. The long-awaited update will see the Ethereum network move from a proof-of-work consensus algorithm to a proof-of-stake algorithm.
- The Goerli testnet merge is a significant milestone for Ethereum, as it marks the final dress rehearsal before the mainnet merge. This move to PoS will help improve scalability and security for the Ethereum network, as well as provide a more sustainable model for long-term growth.
- The completion of the merge will signify the end of Ethereum's proof-of-work chapter. The next steps on Ethereum's roadmap involve improving fees and transaction speeds via sharding and rollups. This will help to improve the efficiency of the Ethereum network and make it more accessible to users.
- The price of ether (ETH) is currently $1,665, up 6.24% over the past 24 hours. The cryptocurrency has seen a solid uptick in price over the past day, and is currently trading near its all-time high.
