The Ethereum Merge Was A Success, Here Are The Details!

The Ethereum Merge Was A Success, Here Are The Details!

ETH Merge

Finally, after years of discussion and waiting, one of the biggest changes in the crypto space has successfully taken place. Ethereum, the second largest cryptocurrency in the world, successfully merged to a Proof-of-Stake consensus on the 15th of September, opening up a new era of opportunities for the blockchain.

The network began its transition at 2:45 am EST and the event went smoothly without any issues as was explained by many of the Ethereum developers and members of the Ethereum Foundation during their livestream of the merge.

Related: Pre-Merge Ether Exchange Inflows Reaches $1.2 billion

Over 41,000 viewers watched and anticipated live on YouTube  as the the Merge, which was designed to cut down Ethereum’s energy consumption by up to 99.9%, went incredibly smoothly with no hiccups whatsoever.

The team of developers also explained in the livestream that despite it’s initial success, they will continue to be monitoring the blockchain throughout the next couple of days to ensure that it truly was successful and that the PoS consensus doesn’t suffer any technical errors.

“There might be some sort of small fire that gets put out very quickly,” Danny Ryan, a core developer, told CNBC. “But the network as a whole — because of the redundancy across all this different software — will very likely be stable and fine.”

Related: 10 Things You Need Know About The Ethereum Merge

Excitement Over The Future Of ETH

With this massive change in the blockchain, many in the community have understandably voiced out their excitement and happiness. Co-founder of Ethereum himself, Vitalik Buterin describes this as “a big moment for the Ethereum ecosystem.”

With The Merge helping to decrease Ethereum’s energy consumption by quite a lot, many in the community are incredibly excited at the prospect of more Ethereum adoption, especially from institutions, taking place in the future.

Related: Experts Observe on the Future of Ethereum After The Merge

ETH’s Price

Since the success and flawless execution of the Merge, Ethereum has seen its price jump slightly by around 1.5% and is now trading at $1,630 at the time of writing. 

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