Ethereum merge

It's one of the biggest events in the history of crypto and blockchain and although there won't be any literal fireworks when the Ethereum blockchain moves ...

Bitcoin pioneered the proof of work model of establishing consensus across its distributed network. [The Merge](https://www.forbes.com/sites/seansteinsmith/2022/09/13/ethereums-paris-upgrade-starts-today-kicking-off-historical-final-merge-process/)” and it marks the moment that Ethereum moves from a system that requires the “validators” that keep the blockchain running to work through a computing problem to simply staking eth tokens as collateral for the privilege. [Ethereum blockchain](https://www.forbes.com/newsletters/forbescryptoassetadvisor/2022/09/14/ethereums-merge-is-happening-tonight/) moves from proof of work to proof of stake, true believers in eth are still celebrating around the world.

Hold onto your butts – The Merge day is here. Crypto rainbows, llama unicorns and flying saucers to the moon? Maybe it's "probably nothing".

Essentially, he thinks BTC hasn’t bottomed yet and is pointing to a, frankly pretty scary, possibility that it could be set to plunge as low as US$9,100 if the market gets a “max pain” repeat. or maybe it really will be closer to the literal meaning of “probably nothing”. a lot of analysts have been expecting a “sell the news” occurrence, so don’t be at all surprised if ETH dumps. Kind of a big deal in the long run, then. Well, of course he didn’t give any predictions on that, but here’s what he did say about where he thinks The Merge stands in the history of cryptocurrency… Crypto rainbows, llama unicorns and flying saucers to the moon?

Frank Corva "Ethereum will likely become more centralized after the Merge, yes. Once Ethereum transitions to a Proof of Stake (PoS) network, validators will ...

"Ethereum is the opposite. [nearly half](https://dune.com/sixdegree/ethereum-the-merge)of all ETH staked on the Beacon Chain. "While the Merge solves many issues, scalability is not one of them. This is important to people in the space who value the idea that blockchains should be as decentralised as possible." "Ethereum is far more decentralised than a competitor like Solana, for instance. "Long-term, it also opens Ethereum up to an environmental, social and governance (ESG) style of investment. "Plus, Ethereum has the most users of any L1 smart contract platform. "The catch though is that you need 32 ETH to run a full node yourself (approximately $80,000). "Suppose the US government implemented sanctions on Ethereum similar to Tornado Cash. I trust the community to solve this over time." "Once Ethereum transitions to a PoS network, validators will replace miners. The move to PoS is a major milestone in a journey that began 7 years ago.

The Ethereum merge countdown is on — as the world approaches this vital event in the blockchain space, here's what investors need to know.

The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. “It’s possible that disgruntled miners will push for the continuation of a separate proof-of-work Ethereum that will run independently,” the firm explains in the document. Of course, the merge itself will also have to happen smoothly. Sotiriou told INN he expects the Ethereum merge to have a significant long-term impact on the entire blockchain market. Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. While that might sound dramatic, Tapscott said this type of action isn't uncommon in the blockchain market. Tapscott of Ninepoint Partners said if the Ethereum merge goes through without any hiccups, the carbon footprint of the entire network will decline by over 99 percent. However, he emphasized, the move is not a total leap of faith, but rather a change to a proven system. Many are now having to adjust to the demands of investors who want to put money into firms taking an ESG-focused approach. The Ethereum merge countdown is on. When we're talking about something of this magnitude, it has never been done before in the crypto space,” said Marcus Sotiriou, analyst at digital asset broker GlobalBlock (TSXV: Tapscott explained that a proof-of-stake network version of Ethereum has already been running for over a year.

The ethereum merge may have the crypto space in a frenzy, however, investors are remaining level-headed as the most significant tech update since the launch of ...

These rollups will only occur in 2023 at the earliest through sharding, the process of splitting up a blockchain into smaller blockchains. In the case of a successful merge, inflows into ethereum may spike and so cause a 'network traffic jam'. One will use a PoS system while the other runs on the old PoW mechanism. Therefore, by transitioning to a PoS system, ethereum will become 99.95% more energy efficient, according to the An additional dynamic that influences ethereum is the 'merge' does not solve issues with the platform’s useability. Once at a market capitalisation of $3tn, the entire space is now valued just shy of $1tn.

The world's second-largest cryptocurrency is poised on the brink of a transformational overhaul. Within hours, "the merge" will happen, and the Ethereum ...

A single bitcoin transaction is estimated to produce a grotesque 776.13 kg of CO2 emissions, and uses enough electricity to power the average US home for a little over 47 days. "The merge" is about to flick the off-switch on an energy drain larger than the countries of Israel, Chile, Austria or Venezuela, and that's an incredible achievement – even if the network has poured hundreds of terawatt-hours down the global toilet to date. And there are certainly risks – a move of this magnitude from a cryptocurrency of this scale (the entire network is worth nearly US$200 billion at this point) is unprecedented. When "the merge" happens, the network will hot-swap over to the beacon chain for validation, and in theory, nothing will have to stop or be disrupted. The new model is known as "proof of stake." "The merge" – just hours away at the time of writing – is widely viewed as one of the biggest moments in crypto history.

The historic upgrade casts aside the miners who had previously driven the blockchain, with promises of massive environmental benefits.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). “Now the market is roughly 70/30 in favor of this being a positive event for ETH.” [replaced by new ones](https://www.coindesk.com/layer2/2022/04/20/is-ethereum-staking-pool-lidos-growth-an-omen-of-centralization/). In general, it is impossible to predict with certainty how the markets will react to a successful Merge. In crypto markets, the Merge had become an object of speculation since at least mid-July, with traders initially viewing the event as a catalyst for a steep rally in the price of ETH. After around 15 long minutes, the Merge officially [finalized](https://www.coindesk.com/tech/2022/09/14/monitoring-the-merge-what-a-successful-ethereum-upgrade-will-look-like/), meaning it could be declared a success. “Proof-of-work is a mechanism by which you take physical resources and you convert them into security for the network. Edgington pointed to the environmental impact of the Merge upgrade as the benefit he is personally the most excited about. “I like to think of it as kind of like the switch from gasoline to electric.” “I mean, it's kind of hard to defend ‘stickers for grownups’ that emit, by some estimates, a megaton of [carbon dioxide] a week.” From an energy costs perspective, it's like Finland suddenly shut off its power grid, according to [one estimate](https://digiconomist.net/ethereum-energy-consumption). “The metaphor that I use is this idea of switching out an engine from a running car,” said Justin Drake, a researcher at the non-profit Ethereum Foundation who spoke to CoinDesk before the Merge happened.

Ethereum's transition from Proof of Work to Proof of Stake was successfully completed just after 2:30 AM ET, or 5:30 AM GMT at block 15537391.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [strict set of editorial policies](/ethics/). [According to EtherNodes](https://www.ethernodes.org/merge), 88% of ether nodes were Merge ready and synched in the moments leading up to the event. [quoted on the Bankless podcast as saying](https://www.benzinga.com/markets/cryptocurrency/22/07/28238848/vitalik-buterin-the-merge-isnt-priced-in-yet)“not going to be priced in pretty much until after it happens” traders appeared to disagree. - Steep exchange inflow is usually a sign of traders preparing to sell, however, there isn’t a consensus yet. “But the fundamentals couldn’t be stronger.”

Ethereum, the most popular cryptocurrency platform, completed its much-anticipated switch to a more energy-efficient infrastructure.

That new chain, the Beacon Chain, was unveiled in December. A flaw in the Merge could imperil the broader crypto industry, upending start-ups and sending the market into a tailspin. The system is widely known as “mining” because the computers earn payments in cryptocurrency as rewards for the verification service. The process of shifting Ethereum to proof of stake required years of intense study and debate. The upgrade is expected to reduce Ethereum’s energy consumption and set the stage for future improvements that will make the platform easier and cheaper to use. It was a rare moment of joy in a grim year for crypto that saw a devastating market crash drain nearly $1 trillion from the industry, forcing some prominent crypto companies into bankruptcy.

The upgrade, known in the industry as the “Merge”, which changes how new transactions are verified on the Ethereum blockchain, completed early Thursday, co- ...

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Today's Ethereum Merge massively reduces the power consumption of the Ethereum blockchain and its features like smart contracts and Non-Fungible Tokens ...

There’s never been a more important time to explain the facts, cherish evidence-based knowledge and to showcase the latest scientific, technological and engineering breakthroughs. Since its creation in 2015, Ethereum has been criticised for being too energy-hungry, too expensive, and too slow to form the basis of a global financial network. For the sake of gods old and new, do not treat this article as investment advice. That’s not so bad if you’re buying a house, but it means Ethereum still isn’t ready for day-to-day transactions like buying a cup of coffee. These competing “miners” use staggering amounts of power, often in places where that power is generated by fossil fuels. and a lot less electricity.

Ethereum Merge, the much-awaited event in the history of the world's second-largest cryptocurrency, went live on 15 September 2022.

At its core, this is the main reason for transitioning from proof-of-work (PoW) to proof-of-stake (PoS).” The Ethereum Foundation estimates energy usage will drop from around 112 terawatt-hours per year to just 0.1,” he added. According to Etherscan, a block explorer and analytics platform for ETH, more than 13.71 million coins have been staked under the deposit contract of ETH 2.0. As the Ethereum ecosystem has grown, scaling solutions have been called upon to keep dapps fast and cheap to use in terms of the transaction or ‘gas’ costs. This is a big moment for the Ethereum ecosystem. Ethereum Merge, the much-awaited event in the history of the world’s second-largest cryptocurrency, went live on 15 September 2022.

Ethereum, the world's second most valuable cryptocurrency, has completed a massive software upgrade that its backers claim will slash its carbon footprint.

The merger moves ethereum to a mechanism called “proof-of-stake,” which is much more energy efficient. The world’s most valuable cryptocurrency, bitcoin, was down almost 1%, trading at $20,174, according to CoinDesk. blockchain called the Beacon Chain,” it added.

The second biggest blockchain has changed the way it validates transactions on its decentralised ledger.

The original cryptocurrency, which still accounts for about a third of the value of the entire sector, is unlikely to ever switch away from proof of work. The underlying aim of ethereum has always been to operate as a “world computer”, letting users write programs that can be run “on the blockchain”. That is the innovation that allowed creations like smart contracts, NFTs and decentralised finance to be built but it is also a very inefficient way to run programs compared with conventional “centralised” approaches. Attacking the network as a whole is still expensive, but only because an attacker would have to buy more ethereum than the rest of the stakers combined. Until Thursday, ethereum used a system called “proof of work” to determine the validity of transactions on its blockchain and ensure everyone in the community had consensus about who owned what cryptocurrency. That successfully made the system very expensive to attack, since any malicious miner would have to buy more energy and chips than the entire rest of the network combined – but also made it incredibly wasteful.

Ethereum's core developers already have their eyes set on the network's next upgrade, Shanghai. What it will consist of, however, is up for debate.

[rolling collections of transactions into a unit](https://decrypt.co/resources/what-are-ethereum-rollups-scaling-solution-cut-transaction-costs) that is presented to the Ethereum blockchain as a single transaction. Van Der Wijden is confident though that the upgrade will occur within the next year. “Some of the more research-focused people don't really consider that all of this has to be implemented and tested,” said Van Der Wijden. There have been no updates made to the EVM in over two years, in part because incorporating those improvements into the merge would have created a massive headache for developers. Staking ETH will allow these entities to generate and collect new ETH as a reward for proving the computing power necessary to validate transactions and secure the network. And once again, the decision will have multi-billion dollar implications.

Two major news events could rock the crypto market this month. Here's what experts think, and why it matters for crypto investors.

[ethereum](https://time.com/nextadvisor/investing/cryptocurrency/price/ethereum-eth/) [merge](https://time.com/nextadvisor/investing/cryptocurrency/ethereum-merge-price-this-week/) took place on Thursday, completing one of the largest events in crypto to date. One thing’s for sure: If the last couple years have taught us anything, it’s that crypto prices are highly volatile and difficult to predict. “We believe bitcoin should ultimately be used as a proxy for direction in the broader crypto market,” Kruger said. The market is particularly volatile right now, as inflation numbers send crypto and stock prices tumbling ahead of another likely rate increase next week at the Fed meeting. [saw similar tumbling](https://time.com/nextadvisor/investing/latest-stock-market-news/) following the CPI release, and the crypto market has increasingly tracked the stock market in recent months. “Given how things have been correlating, and considering this latest inflation data, we expect more downside pressure in crypto as investors are forced to contend with the reality of higher for longer monetary policy that strains growth prospects and weighs on sentiment. The Fed is essentially attempting to cool down the economy in order to rein in rising prices. “There’s no doubt the CPI report has triggered a fallout in risk assets and crypto markets by extension,” said Joel Kruger, Market Strategist at LMAX Group, a financial technology firm headquartered in London that operates foreign currency and crypto exchanges. The ethereum merge has been highly anticipated in the crypto community, and it was finally completed in the wee hours of the morning on Thursday. The change could cut ethereum’s electricity expenditure by an estimated 99.95%, [according to the Ethereum Foundation](https://ethereum.org/en/upgrades/merge/#main-content). Among other concerns, unforeseen bugs in the blockchain could cause outages, which could lead to significant price drops. [Bitcoin’s](https://time.com/nextadvisor/investing/cryptocurrency/price/bitcoin-btc/) prices have gyrated similarly.

Ethereum completed its historical 'Merge' on 15 September. · Ethereum's mainnet execution layer and the Beacon Chain's consensus layer merged at block 15537393.

Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website. The token was still down by 0.80% at 1:00 PM (GMT+1) with a live market cap of US$1,94,64,61,68,318. Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. But following the Merge, the developers believe that Ethereum can significantly reduce energy consumption on the network by 99 per cent. The month of September 2022 will surely be considered as one of the most 'significant' months in the entire crypto history as Ethereum completed its historical 'Merge' on 15 September. This means that the second-largest cryptocurrency by market cap would no longer require to rely upon Proof-of-Work (PoW) consensus mechanism.

Miners shutting shop, centralisation concerns, downside risks… A lot is on the line for Ethereum.

the day ETH overtakes BTC’s market cap), but who knows, maybe The Surge will. This is a big moment for the Ethereum ecosystem. The Merge was the first in a series of rhyming upgrades, with more planned for the years ahead, including The Surge, The Verge, The Purge and The Splurge. We can get into the technicalities another time, but the main takeaway is that The Surge with usher in a new era of significantly faster and cheaper Ethereum transactions. Happy merge all. “The reality right now, is that the Merge has been overshadowed by developments in global markets, with crypto still trading more on risk sentiment and the outlook for Fed policy than anything else.”

Miners shutting shop, centralisation concerns, downside risks… A lot is on the line for Ethereum.

the day ETH overtakes BTC’s market cap), but who knows, maybe The Surge will. This is a big moment for the Ethereum ecosystem. The Merge was the first in a series of rhyming upgrades, with more planned for the years ahead, including The Surge, The Verge, The Purge and The Splurge. We can get into the technicalities another time, but the main takeaway is that The Surge with usher in a new era of significantly faster and cheaper Ethereum transactions. Happy merge all. “The reality right now, is that the Merge has been overshadowed by developments in global markets, with crypto still trading more on risk sentiment and the outlook for Fed policy than anything else.”

The upgrade, known as the Merge, will slash the chain's carbon emissions by more than 99% and, just as importantly, shows that a rag-tag band of crypto ...

[Mainnet](https://mainnet.events/agenda) starts this week in Manhattan. The event has already emerged as New York’s pre-eminent crypto conference, and organizers have just added a trio of A-list speakers: [Coinbase](https://fortune.com/company/coinbase) CEO Brian Armstrong; Binance CEO CZ; and the founding genius of Ethereum, Vitalik Buterin. A long-time crypto skeptic (Smith describes “the vast majority of web3 uses [as] a form of unregulated financialization), he makes the case that instability in places like Russia and China is likely to create waves of refugees looking to flee with their assets. The “wen” reflects the crypto world’s penchant for goofy phonetics, and is most commonly found in the phrase “wen moon?” that asks when prices will soar. "Crypto-facilitated capital flight from China and Russia would likely strengthen the dominance of the dollar, and/or of the currencies of other rich countries allied with the U.S. [noted](https://twitter.com/CamiRusso/status/1570439681107443716), the devs changed the proverbial jet engine mid-flight and did it without a hitch. He suggests dollar-backed stablecoins will be most popular but that, in time, we could see migrants snapping up “stablecoins backed by real estate.” But for this week at least, it is enough for the Ethereum community to take a well-deserved victory lap. Let’s hope the next wave of Ethereum innovation is based around building products that will be truly useful to ordinary people and show them why blockchain is such a great technology in the first place. The top priority should be the exorbitant gas fees that make legacy payment and computer networks look cheap in comparison—Ethereum is never going to catch on if the first time someone tries it, the network dings them for $50 or more in fees. The reaction of the market was decidedly more muted, however, as the price of Ethereum slumped as much as 7% after the merge. The upgrade, known as the Merge, will slash the chain’s carbon emissions by more than 99% and, just as importantly, shows that a rag-tag band of crypto developers can get shit done.

The price stability that prevailed after Ethereum's shift to a more energy-efficient "proof-of-stake" network suddenly evaporated as ether slid 9.1%, ...

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). In the weeks before the Merge, bitcoin and ether appeared to be traveling on separate trajectories. [strict set of editorial policies](/ethics/). In total, 12%, or 305, nodes appeared to be recalcitrant, with the transition with the majority from the Geth network. “We expect this volatility for at least the next 24 hours.” Investors should definitely be cautious, as always, and expect volatility in price and narrative," he added. “I think that you wouldn’t have to throw many rocks to find a fund that has a healthy nine-figure position on the merge, long spot short derivatives or something like that," said Abraham Chaibi, co-founder of Dexterity Capital. “ETH peaked at $2,000 one month ago and has seen a sharp drop today once the Merge was deemed successful. [blockchain data](https://twitter.com/ASvanevik/status/1570268736229199872) showing that investors were sending ETH to crypto exchanges in droves – often taken as a sign that holders are getting ready to dump. The [CoinDesk Market Index](https://www.coindesk.com/indices/cmi/) was down about 4%. “We’ve also seen market depth decrease and spreads increase, so that will likely factor into larger price movements.” [quoted on the "Bankless" podcast as saying](https://www.benzinga.com/markets/cryptocurrency/22/07/28238848/vitalik-buterin-the-merge-isnt-priced-in-yet) the Merge was “not going to be priced in pretty much until after it happens.” [According to EtherNodes](https://www.ethernodes.org/merge), 88% of ether nodes were Merge-ready and synced in the moments leading up to the event.

Investors are applauding the huge reduction in energy use from the transition to proof of stake but are concerned over the Ethereum blockchain's security.

Namely that Ethereum miners might do a ‘hard fork’ into a different version of Ethereum that still runs on the PoW protocol. This will theoretically insulate ETH from more hacking attempts than its current protection, as there will now be fewer ‘access’ points and discrepancies between the two systems for hackers to exploit. That’s because the Mainnet (PoW) version of the blockchain is shutting down. This requires far fewer electricity-hungry computers to maintain and should see energy consumption to run the network fall by a whopping 99%. But in a nutshell, PoS will see an end to Ethereum miners and usher in a new era of validators. If you’re unfamiliar, the Ethereum Merge refers to the

Until now, both ethereum and bitcoin were running on proof-of-work, which requires high-powered computers to verify transactions and “mine” new coins across a ...

[Sign up](https://www.cnn.com/specials/nightcap?source=article) and you'll get all of this, plus some other funny stuff we liked on the internet, in your inbox every night. The unions have agreed not to strike while votes are being tallied, which means the negotiators have bought themselves a couple of weeks. Even though it's technically possible for bitcoin to alter its infrastructure, as ethereum just demonstrated, "bitcoiners view proof-of-work as a superior way of securing the network." In short, the merge would put the core infrastructure of ethereum on a more environmentally sustainable path, reducing its carbon footprint by 99%, according to the nonprofit behind the network. The workers who operate America's freight trains were at their breaking point, often working 14 days in a row, with no sick days (paid or unpaid) and constant fear of termination if they miss work for medical reasons. Similarly, workers at Kellogg continued to strike in December after negotiators thought they'd reached a settlement. (OK, most nights — we believe in a four-day work week around here.) Here's the deal: It's been a rough year for cryptocurrencies and their legions of fans. Per Biden's statement: "These rail workers will get better pay, improved working conditions, and peace of mind around their health care costs — all hard-earned." - (Ugh, I realize that still might sound like sci-fi, but the longer explanation would seriously put everyone to sleep. - But medical time off won't be paid. Bitcoin, by far the largest token, has fallen roughly 70% from its high nearly a year ago.