Ethereum successfully completes the Merge and is now a POS Chain!!

From Ultrasoundmoney

I may have had a hectic day, but that did not hamper me from exclaiming a Woohoo with delight when I checked that today Ethereum Blockchain has successfully completed the Merge.

Ethereum Merge Clock and tracker

So, Ethereum’s Execution layer is now really Ethereum’s Historic State Chain which is now merged with Ethereum’s Consensus Layer which is Ethereum’s Beacon Chain and Ethereum ceases to be a Proof of Work chain, it’s now a Proof of Stake chain!!.

Ethereum’s transition from a POW to POS State Chain happened with Terminal Total Difficulty range of 58750000000000000000000 introduced in Ethereum’s Execution Layer (which is Ethereum historic State Chain now) and this triggered the transition process of Ethereum Blockchain to Consensus Layer, where the next Block was produced by validators of the Beacon Chain!!

Merge tracking page

Woohoo!!

All this is history but I explained about Ethereum’s then upcoming Merge process in detail in my previous article, which was the first article of the series celebrating Ethereum’s Merge .

Grand event this Month for Ethereum with the Merge happening soon transitioning it into a POS chain!!

Major changes in the Ethereum Network with the The Merge

As an avid crypto follower since 2019, I am thrilled that Ethereum has survived and now is hopefully much evolved.

Anyway with Ethereum starting a new phase as a POS Chain, a lot changes from the way Ethereum Blockchain functions with change in it’s Consensus methodology, to Ethereum’s issuance rate that affects Ethereum’s Supply.

Now, Ethereum’s issuance rate has declined by 90%, as explained in my earlier article, obviously this impacts its supply.

You can read about it here -

ETH’s tokenomics changes with the Merge with ETH’s inflation rate becoming Zero

ETH’s supply experiences a major decline now

All of the staked ETH is still going to remain locked until the Shanghai upgrade is activated which will enable ETH withdrawal from staking accounts. Newly issued ETH too gets locked in validator accounts and will come into circulation only after the Shanghai upgrade is finished.

Ultrasound.money’s graphs already show a decline in ETH’s supply after the Merge that's taken place just a few hours ago.

ultrasound.money

I highly recommend all of you to read this article that explains Ethereum’s deflationary tokenomics after the Merge, oh yes you heard it right, deflationary!!

The Merge makes Ethereum a Ultrasound money!!

How The Merge impacts ETH supply

ETH's price reaction to the Merge

Although Ethereum experienced a 9-10% fall on September 13th from price of 1770$ to 1585$, during the Merge day the crypto did not experience any major price movements with ETH’s price now at 1585$.

From Tradingview

That’s all folks… Ethereum has now completed the Merge, and all the Ethereum developers are probably partying after all their years of hard work that’s made Merge possible!!

Tweet

I should now stake my ETH to a validator with Ethereum now a POS Blockchain. It’s a new beginning for Ethereum.

Thankyou for reading!!