The Ethereum Merge is Officially Here
After many delays at long last the new era of the Ethereum network is here as the second largest cryptocurrency activates The Merge.
This change will allow Ethereum users to stake their tokens in exchange for rewards. In addition this will transform the network into a sustainable energy model for processing and authentication of crypto transactions. The network is expected to be 99.9% more energy efficient after the full implementation.
Before The Merge 13,000 ETH were mined each day – a very large number, which will drop to about 1,600.
However, the only thing this update won’t fix is the high cost of doing business on the Ethereum blockchain. Transaction costs won’t be influenced – at least not until further upgrades are implemented.
Network’s speed is also expected to remain unphased.
During the countdown party, Vitalik Buterin said that the network is one step closer to reaching the vision of its founders.
This is the first step in Ethereum’s big journey towards becoming a very mature system. And still there is more road ahead. We still have to scale.. We still have to fix our personal data security. We still have to make everything secure for the regular users and all that stuff. And I think that we all have to work together and contribute for these things to happen.
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Buterin shared that for him The Merge symbolizes the difference between Ethereum in its early stages and the Ethereum everyone has longed to see.
So let’s go together and build the rest of this ecosystem and turn Ethereum into what we always wanted it to be.
A group known as ETHW Core aims to fork the main blockchain and start a mining based version of the network. The fork offers the opportunity for everyone who owns ETH to receive the equivalent number of newly forked tokens.
— EthereumPoW (ETHW) Official (@EthereumPoW) September 12, 2022