The Ethereum Merge has formally taken place, marking the full transition of the network to proof-of-stake (PoS).
On Sept. 15 at 06:42:42 UTC at block 15537393, the long-awaited Merge noticed the merging of the Ethereum Mainnet execution layer and the Beacon Chain’s consensus layer on the Terminal Whole Issue of 58750000000000000000000, which means the community will now not depend on a proof-of-work consensus mechanism.
The Ethereum Basis mentioned the Merge will make the Ethereum community about 99.95% extra power environment friendly and can set the stage for future scaling options, together with sharding.
Ethereum co-founder Vitalik Buterin celebrated the Merge with a tweet moments after the historic transition occurred:
And we finalized!
Pleased merge all. It is a large second for the Ethereum ecosystem. Everybody who helped make the merge occur ought to really feel very proud right this moment.
— vitalik.eth (@VitalikButerin) September 15, 2022
Talking to Cointelegraph, StarkWare President and co-founder Eli Ben-Sasson that “the instant significance of the Merge is the dramatic impact on power consumption.”
Ben-Sasson mentioned it additionally marks “step one in a course of that may result in exceedingly widespread adoption of Ethereum,” stating:
“It begins a sequence response of adjustments. The top outcome would be the very broad use of Ethereum’s computing energy, and the overall inhabitants utilizing blockchain-based apps in many various areas of life.”
The Merge has come on the again of a number of years of exhausting work from the Ethereum Basis.
.@VitalikButerin claims that #Ethereum will have the ability to to course of “100,000 transactions per second”, following the completion of 5 key phases:
• The Merge
• The Surge
• The Verge
• The Purge
• The SplurgeA fast breakdown of what every stage means for $ETH. pic.twitter.com/FnaWww8mHZ
— Miles Deutscher (@milesdeutscher) July 22, 2022
With the Merge full, the “Surge,” “Verge,” “Purge” and “Splurge” are the ultimate phases left on the Ethereum technical roadmap.
Associated: It’s on! Where to catch the Ethereum Merge live
The Surge will improve scalability for rollups by way of sharding, the Verge will obtain statelessness by way of Verkle bushes, the Purge will eradicate historic information and technical debt, and the Splurge will contain numerous small miscellaneous upgrades.
Famend designer Beeple celebrated the Merge with a sci-fi illustration:
THE MERGE pic.twitter.com/7tdfNZiuuv
— beeple (@beeple) September 15, 2022
The Ethereum Merge has formally taken place at block 15537393 on Sept. 15 at 06:42:42 UTC, transitioning the community from proof-of-work to proof-of-stake.
