Ethereum Merge has efficiently accomplished on September 15 at 06:42:42 UTC at block peak 15537394. The final proof-of-work (PoW) and first proof-of-stake (PoS) blocks have secret messages for the group by Self-importanceBlocks and HashKey Capital.
Block Producers Drop Secret Messages in Last PoW and First PoS Transactions
The crypto group noticed essentially the most anticipated and sophisticated improve within the historical past of crypto. Ethereum Mainnet (execution layer) has lastly merged with the Beacon Chain (consensus layer) at block height 15537394 on September 15 at 06:42:42. Interestingly, this marks the transition of Ethereum from PoW to PoS, which reduces Ethereum’s power consumption by round 99.95%.
The final PoW block was produced by F2Pool and has just one transaction and 1 contract inside transaction. The message within the transaction by VanityBlocks has a quote by American ethnobotanist and mystic Terence McKenna:
“Make the commitment and nature will respond to that commitment by removing impossible obstacles. Dream the impossible dream and the world will not grind you under, it will lift you up. This is the trick.”
In truth, the quote pertains to the arduous work of Ethereum developers, researchers, coordinators, clients, and others concerned with the Merge. Moreover, steady coding, upgrades, testing, and fixing for a few years have made Ethereum efficiently transition from PoW to PoS.
In addition, HashKey Capital has additionally left a message in a transaction on the primary PoS block.
“Powering the Next Wave of Blockchain Innovation.”
Also, the primary PoS block has a reward of 45.03 ETH, which is value over $72,000. The block has 80 transactions and 1 contract inside transaction. However, the following blocks have considerably low rewards.
The Merge is a paradigm shift within the Ethereum ecosystem. With the Merge now full, builders can deal with the Surge, Verge, Purge, and Splurge phases within the Ethereum Roadmap. It will additional enhance the scalability, effectivity, velocity, and safety of the Ethereum ecosystem.
Ethereum co-founder Vitalik Buterin in a tweet congratulated the group after the profitable Ethereum Merge.
“And we finalized! Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.”
Ethereum (ETH) Price Deflationary Post-Merge
The circulating Ethereum (ETH) provide will decline due to the EIP-1559 burning mechanism lowering the brand new ETH issuance. As per latest knowledge, virtually 200 ETH provide has been faraway from the circulation provide after the Merge.
The ETH value has decreased after the Merge. At the time of writing, the ETH value is buying and selling 2% down at $1,579. Also, the market cap has plummeted 2% to $193.71 billion.
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