Try Quests to earn cryptoETHEREUM- MERGE - IMPORTANT
ETHEREUM MERGE
What was The Merge?
The Merge was the joining of the original execution layer of Ethereum (the Mainnet that has existed since genesis) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminated the need for energy-intensive mining and instead enabled the network to be secured using staked ETHThe Merge is the next step in the evolution of Ethereum. It is an upcoming event that will see the existing execution layer merged with the recently deployed consensus layer (the Beacon Chain) — this will form a mainnet platform secured by proof-of-stake, while still maintaining the original Ethereum state. Right now, there are two independent blockchains for Ethereum operating in isolation .The Merge which happened on September 15th, was the joining of the original execution layer of Ethereum (the Mainnet that has existed since genesis) with its new proof-of-stake consensus layer, the Beacon Chain.
What Is The Merge?
The Merge is the merger of two blockchain systems: the current Ethereum Mainnet and the Beacon Chain proof-of-stake system. This merger will convert the Ethereum blockchain from a proof-of-work system to a proof-of-stake system.
Why Is The Merge Important?
There are substantial differences between proof-of-work and proof-of-stake consensus mechanisms. These differences will have a number of impacts on the Ethereum blockchain – some immediate and some more long-term
A. Power Consumption
B. Access
C. Reduced Centralization
D Security
BLOCK TIME
METHODOLOGY
In this dashboard of OPEN ANALYTICS - ETHEREUM we WILL dive in 3 different parameters to see what has changed ever since The Merge happened (September 15th). For this we will be using ethereum.core.fact_transactions , ethereum.core.fact_blocks .
For the general stats we have divide the time frame into two parts before merge & after merge and analysis is donre using variables day , minutes & seconds.
BEFORE MERGE
AFTER MERGE
ANALYSIS
We can observe Maximum block time and Minimum block time are the same for both the periods -both before and after merge
The total average block time is lower in the period after the merge
On daily basis, we can see spike on decreasing of average block time. SEPTEMBER 21 & DECEMBER 7 ARE THE TWO DAYS WTH HIGHEST SPIKE.
GAS
ANALYSIS
There was spike in the number of transaction on merge day ,15th September which is not a matter of concern . after the number was stable ,In DECEMBER once again spike is seen on some days and the graph remained increasing steadily .Transaction per block is not an interesting one during the merge days except on the first day of merge & in December. Transaction per second & per minute remained at the same pace & similar .% of failed transaction also remained constant .
GAS BEFORE MERGE
TRANSACTION, AVERAGE TRANSACTIONFAILED & SUCCESSFUL TRANSACTION PER MINUTE PER SECOND( TXN PER MIN, TXN PER SEC, AVG)
GAS AFTER MERGE
==CONCLUSION==
The average block time has been falling ever since the merge, even though the successful number of transactions were rising, and this could mean a promising future and faster performance on Ethereum Blockchain.
The metrics on minute, second and daily scale are showing a slight gradual increasing trend for number of transactions. but not a remarkable one.
From my idea, the most promising part is the Gas. As the cumulative average Gas has been decreasing ever since the merge, we can finally be hopeful to see that our wishes about the merge are becoming true: Our motto of Less energy consumption → lower gas fees might become true.