In both Ephesians 1:3 and I Peter 1:3, the salutation is to bless or praise God, the Father of our Lord Jesus Christ. He has both blessed, begotten, and fathered us again, thus restoring us to our original state as His children. Giving us the nature of His eternal Son, Jesus Christ, by way of His Spirit so that we might be graced to fulfill our eternal purpose as His sons. We have been justified by His grace and given His Spirit, which leads us to the fullness of His grace and on to the blessed hope of our eternal inheritance. He has given us grace for grace—grace to receive more grace, which leads us to the discovery of blessings in this life as well as the life to come that is reserved for us in Heaven.
Jesus Christ came to fulfill all the righteous requirements of the Law on our behalf. Then, He died on our behalf so that our requirement was only to believe that His sacrifice was sufficient for our past, present, and future sins. By receiving His Spirit, we can give full expression of the new life that is now ours. This allows us to no longer live unto ourselves, but allows the Spirit of Christ to become life within us. Then as Isaiah 54:14 states, we then can become established in righteousness, the ability to stand before the Father without guilt or inferiority. It is what we now stand for that matters most.
The objective of the true and transformed believer is to glorify the Lord. He does not just believe in Him, but believes on Him. He then can discover aspects of His love measured out to Him in the abundance of His grace in application to life’s experiences. God is then permitted to enter His world as an active participant rather than a passive theoretical idea. Too many people believe in the Lord, but not on the Lord. They do not walk in the Spirit but rather merely give Him an honorable mention. The works of God are but of a past era while a powerless and impotent entity is worshiped in the place of the Omnipotent God.
All creation anticipates the revealing of the sons of God. He provides for us endless opportunities to participate with Him in the work of restoration and bringing the whole of creation into compliance with His will. Spiritual gifts are distributed to us as we mature and grow in grace to understand their proper use. He works in us and through us at the same time, and we are being fit for our future inheritance while receiving a glimpse of His glory. A foretaste of His ultimate promises is demonstrated through us as Heaven and earth meets through His Church. We give thanks for the glory of His grace by which He has made us accepted in the Beloved.