Ethereum Merge spikes block creation with a faster average block time

Merge upgrade for Ethereum, which primarily aimed to transform the blockchain into a Proof-of-Stake (PoS), consensus mechanism, was shown to have a positive effect on the creation and use of new Ethereum blocks.

The Merge was one of the most important upgrades to Ethereum. Cointelegraph dispelled many myths about cheaper gas fees and faster transactions that were created by the hype surrounding the Merge. The blockchain has seen some notable improvements post-Merge, including a significant increase in block creation per day and a decrease in block time.

Ethereum blocks per day. Source: YCharts

After successfully transitioning to PoS, Ethereum completed The Merge upgrade on September 15. The number of blocks created each day (EBC), jumped by 18% from approximately 6,000 to 7100 blocks per daily that day.

Average block time in Ethereum (EBT). Source: YCharts

This was complemented by a drop in the average block time for Ethereum, which is the time taken by validators or miners within a network verify transactions. Data from YCharts supports this.

These findings demonstrate the positive effect of The Merge on Ethereum’s blockchain.

Related: Starkware cofounder says Ethereum Merge was “executed flawlessly”.

The Ethereum upgrade saw a dramatic drop in GPU prices in China as the blockchain abandoned the PoW consensus mechanism, which is power-intensive.

According to a Chinese merchant, the Nvidia GeForceRTX 3080’s cost dropped from $1118 (or 8,000 yuan) to 5,000 within three months. According to the merchant, no one in China is buying new computers or GPUs.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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