Prices Rise After Ethereum 2.0 Client Fixes Merge Stability

Prices Rise After Ethereum 2.0 Client Fixes Merge Stability

2022-05-31 | Selina Mathew

Prices Rise After Ethereum 2.0 Client Fixes Merge Stability

Lighthouse, an Ethereum 2.0 consensus client, has released version 2.3.0, which includes corrections for the Beacon Chain's recent 7-block reorganizations. The Ethereum mainnet is also fixed and improved in the high-priority release v2.3.0. The Ethereum (ETH) price fell below $1750 on May 25 as a result of the 7-block reorganizations, raising questions about the Ethereum Merge.

Before the Ropsten beacon chain genesis on May 30 at 3:00 PM UTC, all users were encouraged to update to v2.3.0. Furthermore, the update includes modifications to improve the likelihood of receiving head votes and creating blocks in degenerate cases.

Lighthouse v2.3.0 is now available for fixing block reorganizations.

On May 30, blockchain business Sigma Prime, which manages the Ethereum 2.0 consensus client Lighthouse, announced the release of version 2.3.0 on GitHub. The priority release avoids yet another block rearrangement and improves the prospects of a successful Ethereum Merge.

Vitalik Buterin, the inventor of Ethereum, has stated that the Ethereum Mainnet may be integrated with the Beacon Chain by mid-August. Proof-of-work (PoS) consensus will be replaced with proof-of-stake (PoS) consensus as a result of the merger. However, the Beacon Chain's block restructuring on May 25 prompted concerns about the transition to PoS's stability. In reality, the occurrence triggered a wave of selling, causing the price of ETH to plummet by more than 10% in a single day.

Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview

Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List