A significant drop in average block time and a sharp rise in daily block production are just two examples of the obvious gains the blockchain has seen since the Merge.
It has been discovered that the Ethereum Merge update, which aimed to convert the blockchain into a proof-of-stake (PoS) consensus mechanism, had a favorable effect on the production of new Ethereum blocks.
The Merge was seen as one of Ethereum’s most important improvements. Due to the enthusiasm, Cointelegraph dispelled a number of myths about speedier transactions and reduced gas prices that plagued the crypto sector. However, the blockchain has clearly improved after the Merge, with daily block generation rising sharply and average block time falling noticeably.
After successfully implementing PoS, Ethereum completed the Merge update on September 15. The daily production of blocks increased by around 18% on the same day, rising from about 6,000 to 7,100 blocks.
In addition, data from YCharts shows that Ethereum’s average block time, which measures how long it takes a network’s miners or validators to confirm transactions, decreased by nearly 13%.
The results presented above demonstrate how the Merge update has improved the Ethereum blockchain.
GPU costs in China significantly decreased after the Ethereum update as the blockchain shifted away from the energy-intensive proof-of-work (PoW) consensus process.
According to a Chinese retailer, the Nvidia GeForce RTX 3080’s cost decreased from 8,000 yuan, or $1,118, to 5,000 yuan in just three months, as Cointelegraph reported. The seller said that nobody in China was purchasing new laptops, much less new GPUs.
