Ethereum Merge spikes block creation with a faster average block time

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The Merge upgrade for Ethereum (ETH), which pri­mar­i­ly sought to tran­si­tion the blockchain into a proof-of-stake (PoS) con­sen­sus mech­a­nism, has been revealed to have a pos­i­tive impact on the cre­ation of new Ethereum blocks.

The Merge was con­sid­ered one of the most sig­nif­i­cant upgrades for Ethereum. As a result of the hype, numer­ous mis­con­cep­tions around cheap­er gas fees and faster trans­ac­tions plagued the cryp­to ecosys­tem, which was debunked by Coin­tele­graph. How­ev­er, some of the evi­dent improve­ments expe­ri­enced by the blockchain post-Merge include a steep increase in dai­ly block cre­ation and a sub­stan­tial decrease in aver­age block time.

Ethereum blocks per day. Source: YCharts

On Sept. 15, Ethereum com­plet­ed The Merge upgrade after suc­cess­ful­ly tran­si­tion­ing the net­work to PoS. On the same day, the num­ber of blocks cre­at­ed dai­ly (EBC) shot up by rough­ly 18% — from approx­i­mate­ly 6,000 blocks to 7100 blocks per day.

Ethereum aver­age block time (EBT). Source: YCharts

Com­ple­ment­ing this move, the aver­age block time — the time it takes the min­ers or val­ida­tors with­in a net­work to ver­i­fy trans­ac­tions — for Ethereum dropped over 13%, as evi­denced by data from YCharts.

The above find­ings show­case the pos­i­tive impact of The Merge upgrade on the Ethereum blockchain. 

Relat­ed: Ethereum Merge was ‘exe­cut­ed flaw­less­ly,’ says Stark­ware co-founder

Fol­low­ing the Ethereum upgrade, GPU prices in Chi­na wit­nessed a sig­nif­i­cant drop as the blockchain moved away from the pow­er-inten­sive proof-of-work (PoW) con­sen­sus mechanism.

As Coin­tele­graph report­ed, the Nvidia GeForce RTX 3080’s price dropped from $1118, or 8,000 yuan, to 5,000 yuan with­in three months, accord­ing to a Chi­nese mer­chant. The mer­chant fur­ther stat­ed that no one (in Chi­na) is buy­ing new com­put­ers, let alone new GPUs.

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