Ethereum Merge spikes block creation with a faster average block time

The Merge update for Ethereum (ETH), which primarily sought to turn the blockchain into a proof-of-stake (PoS) consensus mechanism, has been revealed to have a positive impact on the creation of new Ethereum blocks.

The merger was considered one of the most significant updates for Ethereum. As a result of the hype, numerous misconceptions about cheaper gas rates and faster transactions plagued the crypto ecosystem, which Cointelegraph debunked. However, some of the obvious improvements experienced by the blockchain after the merger include a sharp increase in daily block creation and a substantial decrease in average block time.

Ethereum blocks per day. Source: YCharts

On September 15, Ethereum completed The Merge upgrade after successfully transitioning the network to PoS. On the same day, the number of daily blocks created (EBC) skyrocketed by approximately 18%, from approximately 6,000 blocks to 7,100 blocks per day.

Ethereum Average Block Time (EBT). Source: YCharts

Complementing this move, the average block time (the time it takes miners or validators on a network to verify transactions) for Ethereum dropped by more than 13%, as evidenced by data from YCharts.

The above findings show the positive impact of The Merge update on the Ethereum blockchain.

Related: Ethereum Merge “executed flawlessly,” Starkware co-founder says

After Ethereum’s upgrade, GPU prices in China witnessed a significant drop as the blockchain moved away from the intensive Proof-of-Work (PoW) consensus mechanism energetic

As Cointelegraph reported, the price of the Nvidia GeForce RTX 3080 dropped from $1118, or 8,000 yuan, to 5,000 yuan in three months, according to a Chinese trader. The trader further said that nobody (in China) is buying new PCs, let alone new GPUs.