Cryptocurrency News & Updates

Welcome Bellatrix: Update That Will Turn Off Ethereum PoW


Welcome Bellatrix update! The next milestone is for Ethereum is the Ethereum network

The long-awaited upgrade for Ethereum’s Ethereum network, which transforms a cryptocurrency into a true PoS investment, is ready for release. It has also recently received a brand new name, which is linked to the third largest of the three stars within the Orion constellation, Bellatrix.

Bellatrix is the name that was changed of the earlier Merge version that was developed to integrate to the Beacon Chain, which utilizes the proof-of-stake (PoS) protocol instead of the old the proof-of work (PoW) protocol, which has been extensively criticized by crypto enthusiasts as well as opponents.

This Bellatrix update will shift to move the Ethereum chain to a full of the proof-of-stake (PoS) protocol, which will exclude miners from the network’s capabilities. Validators will be rewarded previously when they approve transactions.

The update’s release is scheduled for Q1 to Q2 of 2022. At present Beacon Chain Beacon Chain is functioning separately from the mainnet. The network currently in use is based on the proof-of-work protocol, while Beacon Chain Beacon Chain runs on proof-of-stake. The new version will merge these two protocols together to form one.

Bellatrix will be an upgrade that makes Ethereum “eco-friendly,” as the site that is merging claims. It will also enable the network to attain complete scalability, security and long-term sustainability which are the key objectives of Eth2’s mission.

Developers have noted that the transition from PoS as well as PoW networks can be a challenging task to complete which means they will have to delay previously planned features that the network could have, for example, the removal of staked rewards.

When the network is updated with the update, the developers intend to release”cleanup” updates “cleanup” update that will serve as a preparation for the launch of new technologies and features. The next update is expected to be released shortly after the merge of both networks.



Source link