ETHereum after  EthEreum Merge

What's Ethereum Merge?

Ethereum merge is a scheduled event planned by Ethereum team to switch the network from PoW consensus to POS.

When did it happen?

Eth Merge took place on Sept 15th 2022. The network has tested the changes on 5 testnets before going ahead with mainnet.

What changed?

Its more like an Ethereum upgrade. Helping Ethereum fight congestion & slower transaction speed.

What about Speed?

The transaction per second has been drastically improved from 15 tps to 1500 tps.

Is it Green blockchain?

Yes, switching to proof-of-Stake consensus will reduce ethereum's energy consumption by nearly 99.95% 

The Electricity Saved

Acc. to a tweet by Vitalik. The new Ethereum merge will reduce the global power consumption by 0.2%, which  is huge.

What happen to old ETH?

The old ETHs are still valid on the blockchain. Users may have to follow a simple process to migrate them to the new chain.

Can i use the network?

Yes, the system has been updated. Users can use the Ethereum network as they use it before with faster settlements.

What about ETH Mining?

Users won't be able to mine Ethereum using mining devices. Join the validator nodes & stake Ethereum to get rewards

Does it reduce Gas fees?

It won't reduce the gas fee immediately but over a period of year the gas fee reduction will be visible to the users

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