It’s been less than a day since Ethereum’s historic transition to proof-of-stake, with most of the crypto community still abuzz with excitement following the successful Merge.
On Sept. 15 at 06:42:42 UTC, the last Ethereum block using the old proof-of-work consensus mechanism was mined. Replacing it is an energy-efficient proof-of-stake consensus mechanism.
Many crypto enthusiasts and climate advocates worldwide have been thrilled by the positive impact it will have on the environment and thus, crypto’s reputation.
Others have just been in awe of the technological feat of upgrading an entire blockchain network without any stoppages.
Ethereum Ethereum
30 minutes ago Now pic.twitter.com/cyQb3pAdtt— WolfOfEthereum.eth ️ (@Crypto_Wolf_Of) September 15, 2022
Uniswap Labs founder and CEO Hayden Adams told his 232,200 Twitter followers on Sept. 15 that the reduction of Ethereum’s energy usage “will improve the network’s public image” more so than anything else in its “entire history.”
According to the Ethereum Foundation, Ethereum’s new PoS consensus mechanism is set to reduce the energy consumption of the entire network by 99.95%.
Adams believes that “people are massively underestimating this aspect of the Merge.”
Ethereum reducing its energy usage by 99.98% will improve its public image more than anything else in its entire history (rightfully so imo).
I think people are massively underestimating this aspect of the merge.
— hayden.eth (@haydenzadams) September 15, 2022
Ripple Labs CEO Brad Garlinghouse on Twitter called it a “truly incredible technological feat,” and NFT company Yuga Labs told its followers this was a “big step” in scaling Ethereum to its “first billion users.”
Nischal Shetty, founder and CEO of Indian crypto exchange WazirX shared his congratulations, remarking that Ethereum is the “OG of smart contracts” and has played a massive role in building the Web3 ecosystem….
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