Ethereum (ETH) is about to experience a turning point in its evolution. Indeed, the network upgrade to The Merge is fast approaching. Between doubts and certainties as to the success of the operation, the launch date remains unclear. However, it is most likely to take place in September. That said, the countdown can only really begin when the network migrates to Bellatrix, an upgrade expected around September 6th.
The knots of mainnet of Ethereum must prepare to welcome The Merge.
The latest work on the Ethereum blockchain reveals that the transition to The Merge is imminent. Indeed, very soon, the network should abandon the Proof-of-Work (PoW) mechanism in favor of Proof-of-Stake (PoS). An evolution that will have a considerable impact on the Ethereum community and far beyond.
But when it comes to progress, it’s important not to put the cart before the horse. That is why developers from Ethereum invite mainnet users to upgrade their Ethereum 2.0 client Teku to its latest version (22.81). This must be done before September 6th.
The reason for this is that the Teku client v.22.81 includes the Bellatrix upgrade and the configuration needed to switch to The Merge. That said, Bellatrix is intended as an essential upgrade to prepare for the merger. It is therefore a mandatory update for all nodes.
Additionally, validators will also need to update their runtime client beforehand. This could lead to errors, until the process is completed.
Between the falling cost of gas and the moves towards The Merge, it’s time for enthusiasm for Ethereum. That said, things should be even better if the upgrade is successful. This situation should drive up the price of its native token, Ether, and encourage the influx of new projects to the network. However, amidst all these exciting prospects, a question arises as to what will happen to miners after this upgrade.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Tremplin.io!