In a little over a week it will be time. Then the merge on the Ethereum (ETH) network finally on it mainnet be launched. Today was the first Bellatrix update on the beacon chain on the agenda. This was the last step before this beacon chain can be merged with the main network and has since been successfully completed!
Ethereum Bellatrix
At the moment there are, as it were, two different ethereum chains. The main network and the beacon chain. Both networks were still running on the proof of work (PoW) consensus model. However, today’s Bellatrix update has ensured that the beacon chain has now switched to proof of stake (PoS).
BREAKING: #Ethereum‘s Bellatrix upgrade has taken place, the final phase before the merge to proof-of-stake.
— Watcher.Guru (@WatcherGuru) September 6, 2022
This is quite revolutionary. It has never happened before that a large network such as Ethereum changes its consensus model. During the day the merge on September 15, the beacon chain, that is already proof of stake is, merging with the main network that from then on also proof of stake will be.
Co-founder of the Ethereum network, Vitalik Buterinhad this to say about today’s Bellatrix update:
“The merge is still expected around September 13-15. What’s happening today is the Bellatrix hard fork, which is *preparing* the chain for the merger. Still important – make sure to update your clients!”
Price forecast Ethereum merge
The price of ETH has been doing quite well lately. At least better than the price of bitcoin. This is also clearly reflected in the ETH/BTC pairing. This of course has everything to do with the hype surrounding the merge. It’s arguably the biggest update ever to the network’s second-largest cryptocurrency.,
Naturally, many investors are currently also wondering what the price of ETH will do after the merge. Will a nice rally start, or is this a typical one? ‘buy the rumour, sell the news’ moment.
We asked our followers on Twitter. It turns out that most believe that the price of ETH will not rise after the launch of the merge, but rather it will fall. No less than 65.5% expect a decrease. Anyway, we’ll know for sure soon.
All eyes are on the #Ethereum #merge. What do you think, is this going to be a typical case of ‘sell-the-news’? Will the price of ETH rise or fall after the merge?
— Crypto Insiders (@CryptoinsidersS) September 4, 2022
