As the countdown for the Ethereum merge kicks off today with the Bellatrix upgrade, close to 73% of the Ethereum nodes have marked themselves as merge-ready, according to the data from ethernodes.org. The much-anticipated systems overhaul would mark the crypto platform’s transition to a proof-of-stake protocol and would also make it more energy efficient.
For perspective, clients operating the Ether nodes must comply with the Bellatrix upgrade that will allow nodes to add transactions on the Beacon Chain. The Bellatrix upgrade will happen on 6 September at 11:34:47 a.m. UTC.
Those nodes that don’t comply before the Bellatrix upgrade will get stuck on the incompatible chain and will not be able to send ETH or verify transactions on the new chain post-merge.
Currently, close to 27% of the nodes have not marked them merge-ready and most of them are from Geth, short for Go Ethereum, the software code in the Go language.
Nodes are required to run software that can verify transactions add them to blocks and keep the network going. About 70% of all nodes use cloud computing services such as AWS, Hetzner, OVH SAS, and Google Cloud, according to data from ethernodes.org.
The Bellatrix upgrade will be followed by the Paris upgrade, the last part of the merge. The Paris upgrade is scheduled to take place on 15 September at 7:11 a.m. UTC when the targeted Total Terminal difficulty (TTD) level will be reached and mining will become unfeasible. And the proof-of-stake Beacon Chain will be replaced. At any point, there will be no downtime in the Ethereum network.
What is expected of Ethereum merge?
The Ethereum merge is expected to bring about a shift to Proof of Stake, enhance decentralization, and lay the groundwork for future scalability improvements, all while maintaining the integrity of existing tokens and NFTs on the network. It is seen as a pivotal step in Ethereum’s ongoing development and growth.
Is Ethereum merge complete?
Ethereum merge has been completed. The merger took place as a significant milestone in the Ethereum network’s development. It was executed, as stated on the official Ethereum website, reducing energy consumption by approximately 99.95%.
Will Ethereum price go up after the merge?
Ethereum price after the merger is uncertain, and it depends on various factors, including market sentiment, adoption, and network fundamentals. Investors should consider multiple sources and conduct thorough research before making any predictions or investment decisions.
Has the Ethereum merge been successful?
the Ethereum merge was indeed successful, leading to substantial improvements in the network’s energy efficiency and marking a crucial step in its development.