Ethereum shared some important details about fundamental update for network
The official Twitter account of Ethereum issued an important Warning Regarding the upcoming merge update, which is considered to be the most important event in the entire digital asset industry.
On epoch 144896 on the Beacon chain, on Sept. 6, 2022, the Bellatrix upgrade will go live, and the Merge will be triggered at a certain TTD value expected between Sept. 10 and 20. With the execution layer reaching the TTD, the Beacon chain will produce a subsequent block, and the transition will be completed. The expected time of transition is 13 minutes.
To be eligible for the transition, node operators must run execution and consensus layer clients on new releases to avoid losing their place on the network. Validators should also be careful when choosing which client to run as there is a risk of running multiple clients at both levels.
Additionally, Ethereum offers developers the chance to participate in the bug bounty and receive up to $1 million for finding critical bugs and issues that might affect the network’s stability and security.
How is the Ethereum market reacting?
Ethereum has gained 12% in value over the past two days, following a mild recovery in the cryptocurrency market. Unfortunately, given the lack of change in the macro-environment surrounding the industry, such mild growth is a respite before another downturn.
Since Aug. 14, Ethereum tumbled down by almost 28%, losing almost everything it gained since July 18. The drop was more than expected by some economists and traders as Ether was mostly following Bitcoin and general trends on the market.
At press time, the second largest cryptocurrency in the market is trading at $1,600 and showing a decent 3% recovery.
