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.
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.
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.”
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.