Ethereum proof-of-stake (PoS) Merge’s last upgrade, Bellatrix, took place on Tuesday. The transition from proof of work to PoS is expected to take place between September 10 to 20, 2022.
A few days ago, Vitalik Buterin, the co-founder of Ethereum, shared that the PoS merge would take place on Sep 13-15. He explained that Bellatrix hard fork will prepare the network for the merge.
Ethereum the merge is divided into two phases for the PoS transition. The first is the Bellatrix upgrade that was deployed today on the consensus layer triggered by an epoch height.
After Bellatrix, the next update would be “Paris” on the execution layer triggered by Terminal Total Difficulty of 58750000000000000000000, according to the official press release.
Ethereum’s transition from miner to validator transactions is expected to cut down 99% of energy use and speed up the process more than before. The merge might solve the clogging issues as well.
Despite the Bellatrix upgrade, Ethereum prices have fallen with other crypto coins in the market. Bitcoin has fallen below $20K to $18K while ETH trades at $1,512, dropping 7.94% in 24 hours.
Compared to the expectations that the Ethereum merge might push the crypto market up, the prices are dropping at extreme levels.
As the Paris upgrade nears, will ETH prices pick up? The Ethereum and crypto community are restlessly waiting for the upgrade to unfold.