The Merge upgrade for Ethereum, which mainly searched for to transition the blockchain right into a proof-of-stake (PoS) consensus mechanism, continues to be revealed to possess were built with a positive effect on the development of new Ethereum blocks.
The Merge was considered probably the most significant upgrades for Ethereum. Because of the hype, numerous misconceptions around cheaper gas charges and faster transactions plagued the crypto ecosystem, that have been debunked by Cointelegraph. However, a few of the apparent enhancements felt by the blockchain publish-Merge incorporate a steep rise in daily block creation along with a substantial reduction in average block time.
On Sept. 15, Ethereum completed the Merge upgrade after effectively transitioning the network to PoS. On the day that, the amount of blocks produced daily increased by roughly 18% — from roughly 6,000 blocks to 7,100 blocks each day.
Complementing this move, the typical block time — time it requires the miners or validators inside a network to ensure transactions — for Ethereum dropped over 13%, as evidenced by data from YCharts.
The above mentioned findings showcase the positive impact from the Merge replace on the Ethereum blockchain.
Following a Ethereum upgrade, GPU prices in China saw a substantial drop because the blockchain moved from the power-intensive proof-of-work (Bang) consensus mechanism.
As Cointelegraph reported, the Nvidia GeForce RTX 3080’s cost dropped from 8,000 yuan, or $1,118, to five,000 yuan within three several weeks, based on a Chinese merchant. The merchant further mentioned that nobody in China is buying new computers, not to mention new GPUs.