- The transition from PoS to PoW will be fully operational in the next update.
- The switch may be completed between September 10 and September 15.
On Tuesday, the long-awaited Bellatrix update was published on the Ethereum blockchain, marking the beginning of the network’s transition from Proof of Work to proof of stake. Bellatrix update across the network will serve as a blueprint for subsequent changes. The merger is expected to take place between September 10 and September 15. Moreover, with the transition to a new transaction verification system, Ethereum will usher in a new era in the cryptocurrency industry.
There are two stages to Ethereum to merge. The first is the Bellatrix update, which was successfully implemented on the metric meter towards the TTD threshold of 58750 trillion trillion.
A matter of days to integrate
The transition from PoS to PoW will become fully operational once the next update, dubbed ‘Paris’, is launched. Once Paris is activated, the merger will be completed within days. There has been no official announcement of the merger date from the Ethereum Foundation. According to the latest blog post, the switch may be completed between September 10th and September 15th.
In addition, the merger is the most significant development in the cryptocurrency sector this year. The Ethereum Foundation estimates that the new proof-of-stake approach will reduce energy use by 99.5%.
Investors will reportedly be able to initiate transactions at a lower cost after the Ethereum merger, as gas prices will drop. However, gas prices in the network will not be confirmed until after the upgrade is fully operational.
according to CMCToday, the price of Ethereum is $1,668.60 with a 24-hour trading volume of $19,786,358,631. Ethereum price is up 4.30% in the last 24 hours.
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