After years of preparation, a number of testnets, some setbacks and various delays, Ethereum has today completed the arduous transition from Proof of Work to Proof of Stake: The merge is bagged. The event was enthusiastically celebrated on Twitter.
“A big moment for the Ethereum ecosystem”
Ethereum chief developer Vitalik Buterin took the merge as an opportunity to thank everyone involved: “Congratulations on the merge. Everyone who helped make the merge possible should be very proud today.” The merge is “a big moment for the Ethereum ecosystem,” the crypto figurehead added somewhat sentimentally. But a new chapter is not only opening for Ethereum. The merger will “reduce global power consumption by 0.2 percent,” Buterin said in another tweet after.
Tim Beiko was no less enthusiastic, but a little more specific in his choice of words. “We’re done. It is finished. We have merged. Holy shit,” the Ethereum developer commented on the historic moment almost as if he were surprised himself. Beiko also joined in the canon of congratulations on Twitter: “Amazing work from everyone”.
“Proof of Stake Ethereum ist da!”
Ethereum co-founder Joseph Lubin previously stated that the merger was the third most important event in the history of blockchain and crypto. Accordingly, the Consensys CEO thanked the Ether community on the short message platform: “Congratulations to the entire community. And to the developers, customer teams, researchers and educators for their dedication to this important milestone.”
“I enjoy drinking champagne at 8am”
Meanwhile, Ben Edgington was happier. The Ethereum developer popped the champagne cork for the merge – and apparently enjoyed the sparkling wine early in the morning: “I should do this more often,” joked Edgington.
Edgington spoke too a toast to all contributors: “To an incredible community of researchers, client developers, testers, devops, solo stakers, node operators, authors, podcasters and everyone else”. With the merge, “something monumental was achieved today”.
In the August issue of BTC-ECHO Magazine, we spoke extensively with Ben Edgington about the importance of the merge for Ethereum – soberly, of course.
“A historic day for crypto”
For Bankless founder Ryan Adams, Ethereum made history with the September 15th merge, not just crypto history: “A historic day for crypto. A historic day for the internet. A historic day for the world”.
The jump to Proof of Stake is “the first step in Ethereum’s journey to a mature system.” He pointed out that Ether’s inflation rate had already turned negative shortly after the merger: “We are now burning more ETH than we are emitting”. You can find out here how this circumstance could still affect the course of Ether.
BTC-ECHO reports on the current events surrounding the merge. Here you will find an overview of all news about Ethereum 2.0.
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