73% of nodes upgraded their software to the latest version on the eve of the launch

Bellatrix upgrade successfully activated on the Ethereum network

06.09.2022 - 14:55

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2 min

What’s new? Ethereum developers activated the Bellatrix upgrade, which was the last step before the core network switched to the Proof-of-Stake (PoS) consensus algorithm. The Merge is expected to be completed on September 15. 73% of Ethereum nodes upgraded their software to an up-to-date version prior to the launch of Bellatrix. Most of the nodes not ready for the upgraded Beacon Chain network are located on the popular Geth client.

What's the purpose of the upgrade? It's meant to prepare the Beacon Chain network for the merger. After the launch of Bellatrix, a researcher at investment firm Galaxy Digital Christine Kim drew attention to some statistics. She said the network participation rate reached 94,94% and the number of active validators was 403 766 (another 17 743 were offline).

Due to the algorithm change from PoW to PoS, the way the network earns coins will change from mining to staking. There may also be a split into two networks, one of which will continue to run on PoW. In August, developers published a document refuting misconceptions about the upcoming upgrade.

As of September 6 at 14:20 UTC, ETH is trading at $1646, having gained 3,98% overnight, according to Binance.

Author:

Tatiana Darda Tatiana Darda

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