XEN Crypto, a new project on Ethereum, is responsible for over 40% of ETH burns and has made the network’s issuance deflationary for consecutive days, according to ultrasound.money data.
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The average block time for Ethereum has decreased by more than 13%. Ethereum blockchain transitioned away from the power-intensive proof-of-work.
some of the evident improvements experienced by the blockchain post-Merge include a steep increase in daily block creation and a substantial decrease in average block time.
The Merge upgrade for Ethereum (ETH), which primarily sought to transition the blockchain into a proof-of-stake (PoS) consensus mechanism, has been revealed to have a positive impact on the creation of new Ethereum blocks.
The Merge was considered one of the most significant upgrades for Ethereum. As a result of the hype, numerous misconceptions around cheaper gas fees and faster transactions plagued the crypto ecosystem, which was debunked by Cointelegraph. However, some of the evident improvements experienced by the blockchain post-Merge include a steep increase in daily block creation and a substantial decrease in average block time.
On Sept. 15, Ethereum completed The Merge upgrade after successfully transitioning the network to PoS. On the same day, the number of blocks created daily (EBC) shot up by roughly 18% — from approximately 6,000 blocks to 7100 blocks per day.
Complementing this move, the average block time — the time it takes the miners or validators within a network to verify transactions — for Ethereum dropped over 13%, as evidenced by data from YCharts.
The above findings showcase the positive impact of The Merge upgrade on the Ethereum blockchain.
Related: Ethereum Merge was ‘executed flawlessly,’ says Starkware co-founder
Following the Ethereum upgrade, GPU prices in China witnessed a significant drop as the blockchain moved away from the power-intensive proof-of-work (PoW) consensus mechanism.
As Cointelegraph reported, the Nvidia GeForce RTX 3080’s price dropped from $1118, or 8,000 yuan, to 5,000 yuan within three months, according to a Chinese merchant. The merchant further stated that no one (in China) is buying new computers, let alone new GPUs.
Ahead of Ethereum’s Merge, Google is keeping a close eye on developments as the industry holds its breath.
The date range for “the merge,” as the event is being called, is September 15th to the 20th. Investors who
The new feature has been added with just days left until the long-awaited Ethereum Merge.
As a sign of support for the upcoming Ethereum Merge, tech juggernaut Google is marking the time left until the upgrade with a new countdown timer.
Typing any variation of “Ethereum Merge” or “The Merge” into the search engine shows a countdown ticker, with the estimated time left until the Merge based on the current difficulty, hash rate, and merge difficulty.
Off to the side is a cartoon of two happy pandas running toward each other with outstretched hands, which supposedly will get closer as the Merge date draws nearer.
Google Cloud developer Sam Padilla in a Sept. 9 tweet said the timer was “a fun little surprise” and a way to show their appreciation of “the work that has been going into this for years.”
He said the work was done by Google’s search and labs team, but noted that he helped “kickstart” the idea and discussion that led to the timer being implemented.
In the same post, Padilla explained the timer is directly connected to the blockchain, updating the countdown in real-time, stating:
“The underlying data is getting pulled directly from the blockchain via some of the nodes we run.”
He also hinted that pandas get closer as the Merge date approaches, but made a tongue-in-cheek statement, saying: “But you didn’t hear that from me.”
Bear with me. https://t.co/jETQpNydLG#TheMerge#EDCON2021 pic.twitter.com/qSai2Di127
— Hsiao-Wei Wang (@icebearhww) August 29, 2021
Google is increasingly becoming involved in the crypto space, with the company establishing a Web3 team under Google Cloud on May 6.
However, Google developers are not the only ones watching the Merge with keen interest.
Recent Google search data has revealed that searches for the term “Ethereum Merge” generated a score above 50 for the majority of the last month, reaching a peak of 100 on Sept. 3.
A value of 100 is classed as “peak popularity for the term” while a value of 50 means the term is “half as popular”. A score of 0 means there was not enough data for that day.
Related: Ethereum ready for The Merge as last shadow fork completes successfully
Meanwhile, a recent report by CoinGecko found Singapore as the country most interested in the upcoming Ethereum Merge, followed by Switzerland and Canada, Germany, the United States and the Netherlands.
Rankings were determined by analyzing the frequency of ten search terms, including “Ethereum Merge,” “ETH Merge”, and “Ethereum PoW,” then combining them for the overall ranking.
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Vitalik Buterin was one of the founders of the Ethereum blockchain. Vitalik wrote Ethereum’s white paper at the age of
Introduction to Proof-of-Work In order to prevent abuses of computer resources for things like spamming or DoS attacks, proof of