- According to Vitalik, The Bellatrix hard fork is going to be updated today.
- The Bellatrix is an important network update that activates before The Merge.
- The Merge reduces Ethereum’s energy consumption by 99.95%.
Ethereum co-founder Vitalik Buterin tweeted that the Bellatrix hard fork is going to happen on the network today. The Bellatrix hard fork is the first phase before the PoS Merge, which is scheduled on September 13-15.
The merge is still expected to happen around Sep 13-15. What’s happening today is the Bellatrix hard fork, which *prepares* the chain for the merge. Still important though – make sure to update your clients!
— vitalik.eth (@VitalikButerin) September 6, 2022
The Bellatrix is an important network update that activates before The Merge. Ethereum team claimed the Bellatrix is scheduled for epoch 144896 at 11:34 AM UTC, today.
The Merge will join the existing execution layer, with the new proof-of-stake consensus layer. It eliminates the need for energy-intensive mining by reducing Ethereum’s energy consumption by 99.95% and secures the network. Moreover, Ethereum also advises users who prefer better scalability and cheaper fees to use Layer 2, which includes Polygon, Arbitrum, and Optimism.
Ethereum urged node operators to update both the consensus layer and execution layer clients, in order to remain on the network before and after The Merge.
Adding on, Ethernodes reported that 72.7% of clients are ready and synced for The Merge, while 27.3% are still not yet on track.
Importantly, Ethereum developers had pointed out there are many false misconceptions evolving around The Merge. One such misconception was that The Merge would reduce gas fees. Ethereum developers mentioned that The Merge is a change of consensus mechanism, not an expansion of network capacity, and will not result in lower gas fees.
After the Bellatrix upgrade, the Paris upgrade will trigger The Merge after the Terminal Total Difficulty (TTD) of 58750000000000000000000 has been reached.
At the time of writing, Ethereum is priced at $1,655.03 with a surge of 4% in the past seven days. But the coin has dipped by 0.64% in the past hour.