If you haven’t been following the news, Ethereum is transitioning from the Proof-of-Work consensus model to a more energy-efficient Proof-of-Stake model.
This transition also known as The Merge is one of the biggest crypto events of 2022. The merge could potentially break Ethereum and collapse the whole ecosystem.
The Ethereum Foundation just announced that the Bellatrix upgrade is scheduled on 6 September 2022 on the Beacon Chain. The Bellatrix upgrade is a consensus critical change that has to be up before The Merge can happen.
It also announced that the Paris upgrade will shift Ethereum mainnet to Proof-of-Stake upon hitting the Terminal Total Difficulty.
If everything is on schedule, the merge is expected to happen between 10 – 20 September 2022.
Upsized bug bounty
The post also announced The Merge bug bounty bonus. From now till 8 September 2022, there is a 4X multiplier reward on all Merge-related bounties for vulnerabilities.
Critical bug bounty that was previously worth US$250,000 is now worth US$1 million.
[Editor’s Note: This article does not represent financial advice. Please do your own research before investing.]
Featured Image Credit: ChainDebrief