The need to update Ethereum clients comes as the Bellatrix upgrade is set to enable the Beacon Chain to execute transactions.
As many as 73.5% of Ethereum nodes are now marked as “Merge ready” ahead of the upcoming Bellatrix upgrade for Ethereum on Sept. 6, according to data from Ethernodes.
The Bellatrix upgrade is seen as one of the last necessary steps prior to the official Merge, which will see Ethereum transition to a proof-of-stake consensus mechanism between Sept. 10-20.
To become Merge ready, Ethereum node operators must comply with the Bellatrix upgrade by updating its consensus layer clients prior to epoch 144896 on the Beacon Chain, which is scheduled to take place on 11:34:47am UTC on Sept. 6, 2022, according to the Ethereum Foundation.
Percentage of Ethereum clients that are Merge Ready. Source: Ethernodes.
However, with as many as 26.7% of nodes marked “Not-Ready” for the Ethereum Merge, Ethereum co-founder Vitalik Buterin and core developer Tim Beiko and has taken themselves to Twitter to push the remaining node operators updates their clients.
Bellatrix is tomorrow Last chance to upgrade your node if you haven’t yet!
— Tim Beiko | timbeiko.eth (@TimBeiko) September 5, 2022
We’re mergiiiing https://t.co/0VQ9zb6wjN
According to the Ethereum Foundation, node operators that don’t make the update prior to the Bellatrix upgrade will cause the Ethereum clients to “sync to the pre-fork blockchain,” warning:
“Node operators] will be stuck on an incompatible chain following old rules and will be unable to send Ether or operate on the post-Merge Ethereum network.
According to Ethernodes, most of the “Not-Ready” nodes are found on the geth client, who have yet to upgrade to Geth v1.10.23 or higher.
Other Ethereum clients that require updating include Erigon, Besu, and Nethermind.
Ethereum nodes are required to validate blocks and can be run by different Ethereum client software that varies in the programming language used and code base.
All of my validators are merge ready
— sassal.eth (@sassal0x) September 6, 2022
Following the Bellatrix upgrade, the last part of the Ethereum Merge will occur in what is called the “Paris event,” which will be triggered when the Terminal Total Difficulty (TTD) reaches 58750000000000000000000, which is estimated to occur around Sept 15.
Once the execution layer exceeds this TTD, the next block will be produced by a Beacon Chain validator. The finalization of this block will mark the complete transition of Ethereum’s blockchain to the proof-of-stake mechanism.
According to the Ethereum Foundation, Ethereum users do not need to do anything with their ETH and Ethereum-based assets during the Merge but should be on the lookout for scams that suggest otherwise.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
Why is Bitcoin performing better than Ethereum? ETH lags as BTC smashes new all-time high records
Bitcoin has outperformed Ethereum in the past two years, setting new highs while the top altcoin struggles to catch up with speed. Several experts exclusively revealed to FXStreet that Ethereum needs global recognition, a stronger narrative and increased on-chain activity for the tide to shift in its favor.
Bitcoins hits new record high above $94K, signals continuation of larger uptrend
Bitcoin hit new record high on acceleration above 94K on Wednesday, lifted by growing expectations for more crypto-favorable conditions under incoming Trump’s administration. Break above the top of seven-day consolidation range generated initial signal of continuation of larger uptrend after bulls paused to consolidate recent strong post-US election gains.
Cardano surges to over two-year high as on-chain metrics show bullish bias
Cardano (ADA) price extends its bullish momentum, rallying more than 10% on Wednesday and reaching levels not seen since early May 2022. On-chain data further supports this rally as ADA’s whale transaction, trading volume, and open interest all rise, reaching record levels.
Dogecoin Price Forecast: Selling pressure drops 95% as DOGE traders target $0.50 breakout
The Dogecoin price breached the $0.40 resistance on Monday, rebounding from a 15% pullback. On-chain transaction flows observed this week suggest DOGE could be on the verge of another leg-up toward $0.50.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.