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Sunday, December 4, 2022

Ethereum Merge Has Spiked The Creation Of Blocks

The latest upgrade of Merge for Ethereum, which previously sought to move the translation of the blockchain from a proof-of-work to a proof-of-stake mechanism, has been revealed to have quite an impressive and positive impact on the creation of several new blocks of the cryptocurrency. The Merge has always been considered to be one of the greatest upgrades of this cryptocurrency.

As a result of all that hype, there also have been several misconceptions that have been going around regarding cheaper fees of gas and faster transactions that have been plaguing the entire crypto universe, which was recently debunked by Cointelegraph. However, there have been certain improvements of note, something that has been experienced heavily by the blockchain post- Merge- which also includes a steep increase in the daily block creation- along with a substantial reduction in the average block time. 

The Merge Upgrade of Ethereum Has Had A Tremendous Impact On The Cryptocurrency Universe 

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On the 15th of September, Ethereum managed to complete the entire Merge upgrade after it successfully transitioned the entire network to a PoS. On the same day, the number of blocks skyrocketed by around 18%- which is an increase of around 1,100 blocks every day.

And as a complement to the move, the average block time- which is the time that is taken by the miners or validators within a network to verify the transactions- for Ethereum dropped by around 13% as evidenced by data from YCharts. The findings do showcase the positive impact that has been the result of the Merge Upgrade on this blockchain. 

After the upgrade took place in Ethereum, the prices of GPU in China did see quite a significant drop as the blockchain kept moving away from the extremely power-intensive proof-of-work consensus mechanism.

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