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The last block in the PoW era

The last block (block height 15537393) before the merger of Ethereum contained only one transaction. It is reported that the transaction was used to mint "The Last POW Block" in the NFT project VanityBlocks at a cost of about 30ETH ($48618).

The last block of the PoW era:

https://eth.tokenview.io/cn/tx/0xec9db5bfbcd30ad2e3070b626ed4f78abce88687c5d1eb23464242be5edcb537

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https://etc.tokenview.io/en/chart/dailyHashrate

V god: the dream of many years

With the final moments of the Ethereum merger on the horizon, co-founder Vitalik Buterin joined the "Ethereum Mainnet Merge Watch Party" livestream hosted by the Ethereum Foundation to share his final thoughts. When asked if he was excited about the merger, Buterin replied that he was "very excited about exiting the proof-of-work era." The co-founder went on to say that the network’s historic shift from proof-of-work (PoW) to proof-of-stake (PoS) has been on the agenda for years.

According to Buterin, the merger can be seen as a reinvention of the laws of physics. PoW operates using real-world functionality such as electricity, hardware, and computers. And with PoS, everything is virtualized, “essentially allowing us to create a simulated universe with its own laws of physics.”

One of the biggest motivations for the switch, Buterin said, is high cost and heavy energy use. The merger is said to reduce energy consumption by a massive 99.95%. He also pointed out that this is not only good for the environment (which has been a hot topic among environmentalists in the crypto space), but also for “non-environmental externalities.” An example of GPU price increases due to ETH mining was given.

The Ethereum merger finally happened at block 15537393 at 14:42:42 on September 15th, Beijing time. The merger of the execution layer of the Ethereum mainnet and the consensus layer of the beacon chain occurred at a terminal total difficulty of 58750000000000000000000. After the merger, the network no longer relies on the PoW consensus mechanism.

Buterin took to Twitter to congratulate the community and usher in the next era of Ethereum:

These new optimizations allow developers and users to scale the network in ways that were not possible or sustainable in the past. This is an important step in driving the mass adoption of decentralized technologies and bringing the next billion people into the ecosystem.

Article Source

Article Source

https://cointelegraph.com/news/ethereum-co-founder-vitalik-buterin-celebrates-the-merge-dream-for-years