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It’s been less than a day since Ethereum’s historic move to proof-of-stake, and most of the crypto community is still full of excitement. After successful merging.
On September 15th at 06:42:42 UTC, the last Ethereum block was mined using the old Proof of Work consensus mechanism. Its replacement is an energy-efficient proof-of-stake consensus mechanism.
Many crypto enthusiasts and climate advocates around the world I was pleased Through the positive impact it will have on the environment and thus on the reputation of the cryptocurrency.
Others were in awe of the technological feat of upgrading the entire blockchain network without any downtime.
Ethereum Ethereum
30 minutes ago now pic.twitter.com/cyQb3pAdtt– WolfOfEthereum.eth️ (Crypto_Wolf_Of) September 15, 2022
Hayden Adams, founder and CEO of Uniswap Labs, told his 232,200 Twitter followers on September 15 that reducing Ethereum’s energy use would “improve the overall picture of the network” more than anything else in its “entire history.”
According to the Ethereum Foundation, the new PoS consensus mechanism for Ethereum is set to Reduce energy consumption Of the entire network at 99.95%.
Adams believes that “people greatly underestimate this aspect of inclusion”.
Ethereum reducing its energy use by 99.98% will improve its public image more than anything else in its entire history (which is absolutely true).
I think people greatly underestimate this aspect of inclusion.
– hayden.eth (@haydenzadams) September 15, 2022
Brad Garlinghouse, CEO of Ripple Labs on Twitter Call It’s a “truly amazing technical achievement,” and NFT subsidiary Yuga Labs told its followers that it was a “big step” in scaling Ethereum to its “first billion users.”
Nischal Shetty, founder and CEO of Indian crypto exchange WazirX . shared our endstating that Ethereum is the “OG of smart contracts” and has played a huge role in building the Web3 ecosystem.
Even the Twitter account behind Dogecoin, which is now the second largest PoW cryptocurrency by market capitalization, shared “a lot of congratulations” to Ethereum founder Vitalik Buterin and everyone involved in the merger.
Congratulations so much to Tweet embed and all participants in Tweet embed to merge. Fabulous. #EthereumMerge pic.twitter.com/Iu5aQ1wsci
– Dogecoin September 15, 2022
However, others were skeptical about Ethereum’s new consensus mechanism.
Independent journalist Jordan Shuttle said the merger effectively transformed Ethereum into a “WEF (World Economic Forum)” coin which “by design puts all value and control in the hands of the people at the top.”
yes. Who are you designing? All value and control are collected by the people at the top. Selling point to tee. https://t.co/P6reCy9O2T
– Jordan Schachtel @ dossier.substack.com (@JordanSchachtel) September 15, 2022
Cardano fans said on their Twitter account @Cardanians_io that the Ethereum merger will do nothing for they change High transaction fees and scalability.
The account added that Cardano’s Vasil fork will improve the scalability of the Cardano network. The account shared that “Ethereum is basically catching up to Cardano.”
Related: The community celebrates the merger by dropping ETH . inspired art and music
Earlier this week, StarkWare President and Co-founder Eli Ben-Sasson told Cointelegraph that merging Ethereum is “like completing a rocket launch” as there is still a flight ahead.
The merger was the first step in this five-part process that will eventually bring the smart contract blockchain to the “end-game” of Ethereum development, according to Buterin.
The successful ETHMerge is absolutely massive for the entire crypto space.
Hats off to the team for execution with the world watching. A historic moment that kept a bullet train on the tracks toward a brighter future for all. pic.twitter.com/NkhXhBvsV9
– ║Ꮓ║ (playwinGirl) September 15, 2022
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