Eight years of hard work and killing miners with one sword. Ethereum miners may never have thought that the children who had worked hard for eight years would abandon them like this.
September 15th news, Bordel.wtf data shows that the merger and upgrade of the Ethereum main network (at 58750000000000000000000 at 14:43 TTD) has been activated. Through this upgrade of the Ethereum main network, the transition from Proof of Work (PoW) to Proof of Stake (PoS) will be completed. The last block in the Ethereum PoW era was mined by F2Pool with a height of 15537393.
It is reported that once the execution layer reaches or exceeds the predetermined total difficulty value, subsequent blocks will be generated by the beacon chain validator. Once the beacon chain finalizes the block, the merger transition from proof of work to proof of stake on the Ethereum mainnet will be considered complete. Under normal network conditions, the first block produced after reaching the total difficulty value will be finalized within 2 epochs (or about 13 minutes).
After the Ethereum upgrade and merger was completed, some sequelae also emerged.
The magnificent end of an era, and that memory also appeared before my eyes. From then on, there was no Ethereum in the mining world. Ethereum's mining ended in eight years, and it was also the end of China's geographical mining industry. In this field, people advocate computing power and fight against growth, creating a super unicorn with a single quarter profit of US$1.1 billion, which also forced graphics card giants like Nvidia to re-plan their pricing strategies. With the implementation of the ether merger, some big bears also took a breath, and the miners' counterattack rate was less than 1%, which led to airdrops increasing margin to curbing the counterattack, which once pushed the price difference of the capital rate to the price difference of US$10, and then landed smoothly, with positions withdrawn and capital rate leveling.
From this phenomenon, we can see that these are from the panic of Gpu manufacturers. After the aunt switched to POS, the stocks of listed chip companies fell by 2%. However, the published data is indeed the impact of semiconductor , but they will not give up this cake. Therefore, the computing power currently undertaken by pow in the later stage is mainly reflected in ETC, RVN, and big cakes. Due to the increase in computing power of big cakes, the big cakes have been reduced by 5 months in advance, so there is still capital opportunity in the pow market. After the merger of
ether, it will become a phoenix. If the subsequent market pos progresses smoothly, it will be a matter of reducing gas fees and increasing node speed in the ecological environment.
As for the hard fork coins of ETH, it is equivalent to having several more ETCs at most. All projects only recognize V God's ETH pos. As GAS, other coins cannot be used as miner fees. In fact, except for mining and hype like ETC, it has no other use, so everyone does not have to worry about who will replace ETH. In the future, the ETH of pos will be Ethereum, and nothing else is, it is just ETC1, ETC2, and ETC3. What is above
may be open sequelae, and the deep sequelae are also as follows:
1. Regulators may use pos Ethereum as securities to regulate, and Ethereum is the underlying soil, and the soil will have risks due to supervision, so the Ethereum ecosystem may also collapse under new regulatory conditions.
2 and pos save 99.9% of power, TPS is very high, but these two are not the core indicators of blockchain. If power saving and high TPS are core indicators, then blockchain should not exist. The inventor of POS is BM. He has done BitShares, Steemit, and DPOs EOS. It was super hot in 2017 and has failed. There have been many problems with other Pos mechanisms in the circle.
3. Ether Mining has assets of about US$10 billion. There are hundreds of thousands of miners around the world. If they abandon them, it is equivalent to losing a very large ecological group. Since Ethereum has developed to this day, POW has promoted the development of Ethereum's market value of 100 billion US dollars in terms of security and decentralization, and POW is also escorting Ethereum as a escort. Although the times need to develop and move forward, the only thing that remains unchanged is decentralization. Performance is second-hand. There are many ways to replace it, but the essence of decentralization is that you cannot give up or compromise at will. Decentralization is the essence of the industry.
4. It turns out that the POW chain is successful, and Ethereum has almost no competitors under the pow mechanism.After Ethereum was changed to POS, it has many competitors, including EOS in the distance, and all EVM compatibility chains in the nearest, including BSC, Matic, etc., and public chains such as Solana. Especially BSC, it is Binance's own son, and Binance controls the world's largest traffic resource in the circle.
5, Ethereum Foundation and V God have become one-man show. Ethereum eventually becomes web2, and the POS staking mechanism has already appeared large staking groups such as Liod and coinbase. The first few staking groups account for more than 60% of the total staking volume. Although Ethereum is a pos mechanism, it has not become a substantial DPOS? Same as EOS? It's hard to say for a long time.
Of course, no matter how many sequelae are, as V God said, "Ethereum merger is completed. This is an important moment for the Ethereum ecosystem. Everyone who helps achieve the merger should be very proud."
Haha! Whether merged or not, there are sequelae or not. In the minds of ordinary users, what we care most about is the price of Ethereum.
