Ethereum 2.0 Client Releases Fixes For Merge Stability, Prices Jump

Ethereum 2.0 consensus client Lighthouse has released v2.3.0 containing fixes for the recent 7-block reorganizations on the Beacon Chain. The high-priority release v2.3.0 also contains fixes and improvements for the Ethereum mainnet. The 7-block reorganizations on May 25 caused the Ethereum (ETH) price to fall below $1750 as it raised doubts over the Ethereum Merge.

All users are requested to upgrade to v2.3.0 before the Ropsten beacon chain genesis on May 30 at 3:00 PM UTC. Moreover, the release also contains fixes to increase the chances of getting head votes and producing blocks during degenerate scenarios.

Lighthouse Releases v2.3.0 for Fixing Block Reorganizations

Blockchain firm Sigma Prime managing the Ethereum 2.0 consensus client Lighthouse on May 30 announced releasing v2.3.0 on GitHub. The priority release prevents another block reorganization and increases the chances of a successful Ethereum Merge.

Recently, Ethereum’s founder Vitalik Buterin revealed that the Ethereum Mainnet will possibly be merged with the Beacon Chain by mid-August. The merge will result in the transition from proof-of-work (PoS) consensus to proof-of-stake (PoS) consensus. However, the block reorganization on the Beacon Chain on May 25 raised questions over the stability of the transition to PoS. In fact, the event caused massive selling, making the ETH price to fall more than 10% in a day.

The priority release v2.3.0 contains important bug fixes and improvements for the Ethereum mainnet and the Beacon Chain. The upgrade will increase block production in degenerate cases, support for the Ropsten Beacon Chain, and support for the Remote Key Manager API.

All Ropsten users running v2.3.0-rc.0 need to upgrade to this version before the Ropsten beacon chain genesis on May 30. The Ropsten beacon chain configuration was recently completed.

Interestingly, the release majorly impacts testnet users due to database migration. It means the v2.3.0 upgrade prevents users to downgrade to any prior release. However, a downgrade is supported on Prater and Mainnet.

Ethereum (ETH) Price Jumps Above $1900

The Ethereum (ETH) price has jumped nearly 7% in the last 24 hours, making a high of $1909. The increase in price was fueled by a slight recovery across the crypto market. Currently, the ETH price is trading at $1896. The upgrade to v2.3.0 will fix the block reorganization on the Beacon Chain, bringing another wave of rally to ETH price.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

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