Less than a day after Ethereum’s historic move to proof-of-stake, much of the crypto community is still buzzing with excitement following the successful merger.
On September 15th at 06:42:42 UTC, the last Ethereum block was mined using the old proof consensus method. Replacing it is an energy-efficient authentication-consensus mechanism.
Many crypto enthusiasts and climate activists around the world are excited about the positive impact it has on the environment and thus crypto’s popularity.
Others fear the technology of scaling a blockchain network without any downtime.
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 September 15 that Ethereum’s reduced power consumption “improves the public image of the network” more than anything else in its “entire history.”
According to the Ethereum Foundation, Ethereum’s new PoS consensus mechanism is designed to reduce the energy consumption of the entire network by 99.95 percent.
Adams believes that “people greatly underestimate this aspect of integration.”
Ethereum has improved its public image more than anything else in its history by reducing its energy usage by 99.98% (deservedly so imo).
I think people greatly underestimate this aspect of integration.
— hayden.eth (@haydenzadams) September 15, 2022
Ripple Labs CEO Brad Garlinghouse on Twitter It is called It’s “truly an amazing piece of technology,” and NFT company Yuga Labs told followers it’s a “huge step” in getting Ethereum to its “first billion users.”
shared Nishhal Shetty, founder and CEO of Indian crypto exchange WazirX. CongratulationsEthereum is the “OG of smart contracts” and has played an important role in building the Web 3 ecosystem.
Even the Twitter account behind Dogecoin, now the second-largest PoW cryptocurrency by market capitalization, shared “many congratulations” to Ethereum co-founder Vitalik Buterin and everyone involved in the merger.
Congratulations very much @VitalikButerin And all by @ethereum integration. Wow. #Ethereum integration pic.twitter.com/Iu5aQ1wsci
– Dogecoin (@dogecoin) September 15, 2022
Others, however, have been skeptical of Ethereum’s new consensus mechanism.
Independent journalist Jordan Schachtel says the merger has successfully transformed Ethereum into a “WEF (World Economic Forum) coin” that “by design, puts all value and control in the hands of the people at the highest level”.
yes. By design. All value and control is absorbed by the people at the top. POS to T. https://t.co/P6reCy9O2T
— Jordan Schachtel @ dossier.substack.com (@JordanSchachtel) September 15, 2022
Cardano fans on the Twitter account @Cardanians_io said that the Ethereum integration will not do anything. turn into High transaction fees and switching issues.
The bill adds that Cardano’s Vasil fork will improve the scalability of the Cardano network. “Ethereum is basically waiting for Cardano,” the account shared.
Related: The community celebrates the merger by throwing out ETH-inspired art and music.
Earlier this week, Starkware president and co-founder Eli Ben-Sasson told Cointelegraph that Ethereum integration is “like completing a rocket launch” because there’s still a long way to go.
The integration is the first step in this five-part process that will ultimately bring the smart contract blockchain to the “endgame” of Ethereum’s development, according to Buterin.
A successful ETMHerge is huge for the entire crypto space.
Hats off to the team for doing it with Worldview. A historic moment that put a bullet train on the tracks for a brighter future for all. pic.twitter.com/NkhXhBvsV9
— ║Ꮓ║ (@PlaywinGirl) September 15, 2022