James Atkins
Editor
Editor
The ETH Bellatrix upgrade, which starts the final stretch for the much-anticipated Merge upgrade, is now underway. Prices have spiked as a result.
The ETH price has surged by over 5% in the past 24 hours, reaching a new all-time high of $3,500. The Ethereum network is currently undergoing its final major upgrade before the highly anticipated ETH 2.0 merge.
The value of ETH increased after the activation of the Bellatrix upgrade. However, at the time of publication, the value of ETH had decreased to $1,598.80.
This meant that the gains made after the Bellatrix upgrade were almost erased. ETH’s price is up by 4.87% in the last 24 hours and 5.62% in the last 7-days.
The ETH price is often seen as a bellwether for the wider cryptocurrency market. So, ETH’s latest price surge could signal that a wider cryptocurrency rally is on the cards.
Ethereum’s long-awaited ETH 2.0 upgrade is finally underway with the first phase, known as phase 0, now live. ETH 2.0 promises to be a major upgrade to the Ethereum network that will see it swapped. From a proof-of-work (PoW) consensus model to a proof-of-stake (PoS) model
The recent Bellatrix upgrade has given a boost to Ether’s recovery from previous struggles against strong bearish headwinds.
ETH/USD had dropped to an intraday low at $1,550 during the early hours of trading today before ETH bulls took control of price action. ETH/USD is presently up by 2.65% on the day.
The Ethereum network Bellatrix upgrade will help prepare the network for the highly anticipated ETH 2.0 upgrade. ETH 2.0 is a major network upgrade that will help Ethereum scale to meet the demands of a global decentralized economy.
The ETH 2.0 upgrade has been in development for several years and is currently in its final stages. The ETH 2.0 upgrade is expected to be completed by the end of 2022 or early 2023.
The Merge is a two-step procedure. The first step is the Bellatrix upgrade, which happened because of an epoch height. The Paris upgrade will happen when the Terminal Total Difficulty (TTD) is 58750000000000000000000. This is expected to happen between September 13th and 15th.
Bellatrix is the final upgrade on Ethereum’s Beacon Chain. The Beacon Chain, which went live last year is what will allow Ethereum to completely switch from proof-of-work to proof-of-stake.
Presently, every Ethereum node is shown on two different layers: the main proof-of-work chain and the consensus C layer. The plan is to join these layers together through the Merge process and move over to a PoS blockchain.
After the Bellatrix upgrade, validators will be able to generate new Beacon Blocks. Which will include the codebase for merging between the two layers. This will help in the successful completion of ETH 2.0 upgrade. Some of the key features of Bellatrix include:
Bellatrix is a major milestone in Ethereum’s journey to becoming a completely PoS-based blockchain. The upgrade is expected to be completed by the end of 2022. ETH holders can expect increased security and reduced ETH fees once the upgrade is complete.
ETH 2.0 is a highly anticipated upgrade that will help Ethereum scale to meet the demands of the growing DeFi ecosystem.
The merge of ETH 1.0 and ETH 2.0 is a crucial step in this process. And Bellatrix is a major milestone towards making this happen. ETH holders can expect increased security and reduced fees once the upgrade is complete.
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I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
