Ethereum has officially entered the Proof-of-stake era. The Paris upgrade, triggered at the Total Terminal Difficulty of 58750000 P, marked the end of Proof-of-work and Ethereum mining. The performance of Ethereum has been stellar after the merge.
Cumberland, a global leader in crypto liquidity, reveals that the merge finalization was uneventful. Considering the enormity of the software upgrade, this is a remarkable achievement.
Experts in the community claim that the merge has been an absolute success so far. Christine Kim, a researcher at GalaxyHQ who followed every step of the process, highlights that the merge was incredibly smooth.
Ethereum currently has the most number of smart contracts built on top of it. The fact that Ethereum was able to upgrade on such a large scale without any effect on the smart contracts is remarkable.
Lark Davis, a major crypto influencer, reveals that Ethereum is already deflationary minutes after the merge. The deflation of Ethereum after the merge was one of its biggest selling points. According to experts, the deflation was equal to a triple Bitcoin halving. ETH prices are expected to skyrocket as it becomes more and more scarce.
Martin Kopplemann, the founder of the Gnosis, reveals that Ethereum’s performance after the merge is stellar. He reveals that the blockchain is showing amazing stability after the merge. The blockchain had only 1 missed block in quite some time.
The block times of the last 100 blocks!
Amazing stability after the merge! Only 1 missed block.
This is really the best case scenario! pic.twitter.com/dV1PF70vCL
— Martin Köppelmann 🇺🇦 (@koeppelmann) September 15, 2022
Ethereum’s price initially surged as the merge was successful. However, since then, the price has fallen back to pre-merge levels. Many believe that the merge was a “sell the news” event. This means that Ethereum will take time to complete its merge objectives of energy reduction. Therefore, ETH prices will plummet before a strong recovery.
Major crypto influencer, @lightcrypto, believes that the more the ETHUSD holds after the merge, the more the people will invest in Ethereum. The uncertainty in execution is not clear.
After the merge, Ethereum will look to improve its network capacity through scalability. It will also look to improve the high gas fees and slow transaction rates. Moreover, Vitalik Buterin, the founder of Ethereum, laid down Ethereum’s four-phased plan post-merge.
Image by Ulrike Leone from Pixabay
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