Try Quests to earn cryptoETH Merge: Actually Good?
What is Ethereum?
Ethereum is a decentralized network, no government body oversees it and it is not controlled by any person or intermediary.
The decentralization of the Ethereum network has made this blockchain resistant to events such as hacking, network failure due to equipment failure, etc.
Ethereum is a network based on blockchain technology that enables the creation of decentralized applications.
These decentralized programs are created using contracts called smart contracts, and their distinctive feature is the absence of fraud, censorship, downtime, and third-party interference.
What is The Merge?
The transition of the Ethereum network to Proof of Stake (PoS) or its new consensus mechanism for verifying cryptocurrency transactions is called The Merge.
In Ethereum's old proof-of-work (PoW) system, like Bitcoin, miners compete to publish blocks by solving cryptographic problems. But in proof of stake(PoS), validators who stake (lock) at least 32 Ether (about $50,000) into the network are randomly selected to build blocks.
The more Ethereum they spend, the more likely they are to choose one.
A miner or validator who wins a block in both systems is rewarded with a combination of transaction fees and newly created Ethereum. In addition, PoS validators are rewarded for taking additional network security measures.
We reviewed above
The daily amount of ETH transferred before and after Merge.
The number of daily ETH transactions done before and after the Merge.
The number of daily unique users before and after Merge.
Above, we see the high volume of ETH transferred on the day before the Merge event, on September 14th.
Above we see the number of active miners in three different time periods. Before Merge Merge day After Merge
- As can be seen from the chart, we have seen a high number of active miners since the Merge day.
- 84% of active miners are after Merge.
Above we see the volume of ETH vs. the volume of ETH out.
Also ETH Swap in vs ETH Swap out.
We see a high volume of ETH in on September 16th compared to other days.
Conclusion
In this dashboard, we briefly explained the Ethereum network and the Merge event.
Next, we checked the following items:
- The amount of ETH transferred.
- The number of transactions and unique users before and after the Merge event.
- In this review, we saw a high volume of ETH transferred the day before the Merge event.
- Next, we checked the number of active miners before the Merge, on the day of the Merge, and after the Merge.
- We see a high number of active miners after the Merge event.
- Finally, we checked the volume of ETH in vs the volume of ETH out.
In this dashboard, we focus on the Merge event.
The things we want to check are:
- Calculate the amount of ETH transferred before and after the merge.
- Calculate the number of ETH transactions before and after the merge.
- Calculate the number of unique users before and after the merge.
- Calculate the number of active miners in three different time periods (before the merge, the day of the merge, and after the merge).
- Calculate the ETH volume in vs the ETH volume out.
- Also calculating ETH Swap in vs ETH Swap out.
