The Ethereum blockchain formally migrated to the proof-of-stake (PoS) consensus mechanism because the anticipated “Merge” lastly occurred round block top 15537391 on September 15. The protocol’s co-founder Vitalik Buterin has described The Merge as “a giant second for the Ethereum ecosystem.”
ETH Merges on September 15 as Predicted
After months of ready and stress, The Merge — the Ethereum blockchain’s much-anticipated migration to a proof-of-stake (PoS) consensus mechanism — has occurred. As some gamers in the house, together with one of many protocol’s co-founders Vitalik Buterin had hoped, The Merge occurred on September 15 round block top 15537391 at round 2:42:42 a.m. ET.
In his response following The Merge, Buterin tweeted:
And we finalized! Pleased merge all. This can be a large second for the Ethereum ecosystem. Everybody who helped make the merge occur ought to really feel very proud as we speak.
When it comes to the community’s hashrate, information exhibits that it dropped from over 807 TH/s (terahash per second) 24 hours earlier to simply beneath 750 TH/s minutes after the occasion. In contrast with the week earlier than the migration, the hash price appeared to not have plummeted by as a lot as 50% as predicted.
Whereas Ethereum ceased to be a proof-of-work (PoW) blockchain instantly after The Merge, not all miners went together with the choice emigrate. As beforehand reported by Bitcoin.com Information, miners against The Merge are anticipated to proceed mining different belongings reminiscent of ETHW, in addition to already established PoW options.
In keeping with Coinmarketcap information, at across the time of the merge, the USD value of the ETHW IOU briefly surged to simply over $60. Nevertheless, on the time of writing, the worth had dropped to $43.
What are your ideas on the Ethereum blockchain’s migration to a PoS consensus mechanism? Tell us what you assume in the feedback part beneath.
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