Historic Day for Cryptocurrencies with Ethereum Merger Upgrade

Historic Day for Cryptocurrencies with Ethereum Merger Upgrade

Ethereum’s Merge upgrade is officially done, marking the entire network’s transition to Proof-of-Stake (PoS).

On September 15 at 06:42:42 UTC at block 15537393, the long-awaited upgrade of Ethereum’s Mainnet execution layer and Beacon Chain consensus layer appeared at a terminal total difficulty of 587500000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000 network no longer depends on the network. Proof of Work agreement mechanism.

According to the Ethereum Foundation, the merger will make the Ethereum network 99.95% more energy efficient and pave the way for future scaling solutions including shaving.

Speaking to Cointelegraph, StarkWare Chairman and Co-Founder Eli Ben-Sasson said, “The immediate importance of the merger is its dramatic effect on energy consumption. »

Ben-Sasson said the token is also “the first step in a process that will lead to the widespread adoption of Ethereum,” saying:

This starts a chain reaction of changes. The end result will be the very wide use of Ethereum’s computing power, with the general public using blockchain applications in many areas of life.

The Merge upgrade is the culmination of years of hard work by the Ethereum Foundation.

According to @VitalikButerin, #Ethereum will be able to process “100,000 transactions per second”, after completing 5 main steps:

– The Merger
– The Rebellion
– The Verge
– The Purge
– The Splurge

A quick analysis of what each step means for $ETH. Miles Deutscher (@milesdeutscher) July 22, 2022

With Merge completed, the “Surge”, “Verge”, “Purge” and “Splurge” phases are the final phases of the Ethereum technical roadmap.

Also read: Here’s what you need to know about the Ethereum Merger Upgrade

While Surge will increase the scalability of rollups through sharding, Verge will achieve statelessness through Verkle trees, Purge will eliminate historical data and technical debt, and Splurge will involve several small, miscellaneous upgrades.

Renowned designer Beeple celebrated the upgrade of the Merge with a sci-fi illustration:

THE MERGE beeple (@beeple) September 15, 2022

The Ethereum Merge upgrade officially took place at block 15537393 on September 15 at 06:42:42 UTC, moving the network from Proof-of-Work to Proof-of-Stake.

ethereum the merge

Historic day for Ethereum, Merge happened, what impact?

Ethereum (ETH): Welcome to The Merge!

Ethereum (ETH): Welcome to The Merge!