Blockchain

Teku And Geth Release Merge Update

The Ethereum 2.0 client, Teku, released the version 22.8.1 update on August 22, which includes a Bellatrix network upgrade and Merge configuration.

Teku And Geth Release Merge Update 4

All mainnet users must complete the upgrade by September 6 in preparation for the Merge Ethereum event scheduled for September 15.

According to the instructions included with the update, all mainnet nodes must connect to the local executor API and the Validator must set up a default fee recipient.

The update is important for both the executable and Teku. Without it, Teku will report a Merge switch configuration error or “The executable client is offline.”

Additionally, it “sets the Bellatrix and TTD (total terminal difficulty) fork era for The Merge on MainNet” and simplifies the use of the standard REST API. Other enhancements include multi-node configuration signaling a validator, strict caching for new logical endpoints, and the ability to remain optimistic even without a viable fork in the block tree.

Teku And Geth Release Merge Update 5

The update also fixes several bugs, such as “NullPointerException”, repeated timeout exceptions, and calculated payload issues. The tweet also includes a document explaining how Teku signaling node users and validators can prepare for Merge.

The Ethereum client, Go Ethereum (Geth), has released Geth v1.10.22 (Promavess), its first Merge update.

According to Geth’s GitHub, the update that allows the Ethereum mainnet merge at the total difficulty limit of 58750000000000000000000 is scheduled for September 15.

According to currently available information, it will take an average of 872.2 TH/s to reach the required final TTD. The current hashrate is in that range with a total difficulty of 56938771076282196928114.

Interest in staking has also increased over the past few weeks as data on Etherscan shows that the contract address balance currently stands at 13,344,424 (over $20 billion).

OKLink data shows that staking currently accounts for about 11.17% of Ethereum’s total supply, of which, 153,000 ETH has been staked since August, with around 36,000 ETH being added weekly.

ETH price has dropped over 18% over the past seven days as the community continues to discuss the impact of the Merge event on the asset’s censorship resistance.

ETH daily chart. Source: CoinCu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.