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Ethereum Completes Bellatrix Upgrade Ahead of The Merge: Here’s What It Means
Ethereum’s Merge is in implementation and today completed an important upgrade called Bellatrix. The ETH 2.0 upgrade or ‘The Merge’ focuses on new token standards that are more secure. Merging is the process where the Ethereum network switches from Proof of Work (PoW) to Proof of Stake (PoS). Everything is set to change how the blockchain works with the goal of making the Ethereum blockchain less energy intensive.
We have previously discussed in detail what the ETH 2.0 update is all about. Now that things are getting closer to fruition, let’s dive into the Bellatrix update and why it marks an important day for Ethereum investors and developers.
Bellatrix is an update to the Ethereum Virtual Machine, the part of the network that hosts decentralized applications. The update will provide better security, better performance and higher scalability of the network, according to the Ethereum Foundation. It paves the way for the implementation of the Ethereum 2.0 network. This will make the entire ecosystem better prepared for massive adoption. The update will also pave the way for the Serenity upgrade, which will mark the first phase of the ETH 2.0 update. The second phase of the Serenity upgrade will include the release of the Casper consensus protocol upgrade and then finally the Proof-of-Stake mechanism. The merger is expected to be completed by September 15.
This is a significant milestone for Ethereum as the update has been in the works for some time and has been delayed several times. This will allow the network to process significantly more transactions per second. The adoption rate of Ethereum has been steadily increasing over the past few years. The network has proven to be very useful for a wide range of industries. However, since millions of people started using it, it has struggled to scale. The arrival of the ETH 2.0 update will mark the end of scalability issues and the beginning of a new era of the network.
Finally, the update aims to bring faster transactions and a new code upgrade mechanism. It will also bring a more democratic governance structure, making Ethereum a stronger and more attractive network.