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Ethereum Undergoes Important Update in Just Few Hours, Here's What to Do

Tue, 09/06/2022 - 08:20
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Arman Shirinyan
This is last chance to update your clients ahead of Merge
Ethereum Undergoes Important Update in Just Few Hours, Here's What to Do
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Ethereum network will undergo an important Bellatrix update, which is the only milestone left ahead of the Merge update. That is why users should not ignore the warning issued by Vitalik Buterin and other Ethereum developers about updating clients.

The warning mostly applies to Ethereum validators rather than regular users. If you are staking Ether on the Beacon chain, you should immediately update your client, since you will not be able to participate in staking on the outdated version.

Bellatrix will be activated at Beacon Chain epoch 144896, which will appear on the chain at 11:34:47 a.m. UTC. The Merge update will still go live on approximately Sept. 13, and the Beacon chain update does not affect the expected date.

If node operators do not run execution and consensus layer clients on newer releases, they will lose their place on the network and will not be eligible for a transition. Validators should also avoid running a majority client.

Ethereum is still offering developers and white hat hackers a significant bounty for finding some critical bugs that directly affect the network's stability and security.

Ethereum is not yet reacting to update

Although the network is extremely close to the Merge update, ETH itself does not seem to show any reaction to the market. The price of the second biggest cryptocurrency is mostly following market trends.

Ethereum on Proof-of-Stake: Comprehensive Guide to The Merge

But at the same time, Ethereum was able to successfully bounce off the local support level and even broke through the local resistance level of the 50-day moving average. Most industry experts believe the market is going to see a short-term rally ahead of the Merge and a mild correction after it.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.