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Urgent: A historic day for cryptocurrencies.. the market celebrates Mirage's success by crossing a trillion

Urgent: A historic day for cryptocurrencies.. the market celebrates Mirage's success by crossing a trillion

The crypto community was eagerly awaiting the most important upgrade, which some see as the most prominent event in the crypto sector after the invention of Bitcoin.
Indeed, Ethereum announced that the MYRG upgrade actually happened successfully at dawn, today, Thursday, as the Ethereum PoS merger takes place and the Ethereum Proof of Stake consensus mechanism will reduce power consumption by a whopping 99.95% compared to the PoW system.
The Ethereum merger has officially taken place, signaling the network’s full transition to Proof of Stake (PoS), along with the crypto market cap having crossed the trillion mark, though the rally came thanks to altcoin festivities that celebrated the upgrade of the biggest coin after Bitcoin despite fears of a panic sell-off. that swept the markets.

trillion dollars

Ethereum celebrated the merger as a temporary exit from the deep pullback caused by markets' fears about the US Federal Reserve's move after the inflation data shock, which hit the cryptocurrency market as it incurred nearly $150 billion.
While Ethereum rises during these moments of trading today, Thursday, in the range of 2%, reaching levels of $1650, while its market value jumped to levels of $200 billion.
In conjunction with the completion of the successful merger, the market value of digital currencies rose to succeed in exceeding the trillion dollar threshold, even if it came without the rise of Bitcoin, which is still struggling near the levels of 20 thousand dollars, and if it succeeded in reducing a large part of its losses.

Awaiting promotion

On September 15 at 06:42:42 UTC in block 15537393 , the long-awaited merger saw the integration of the main network execution layer of Ethereum.
The Ethereum Foundation said the merger will make the Ethereum network 99.95% more energy efficient and pave the way for future expansion solutions, including hashing.
Vitalik Buterin, co-founder of Ethereum, celebrated the merger with a tweet moments after the historic transformation tweeting...Wishing you merge everyone..This is a big moment for the Ethereum ecosystem..Everyone who helped make the merger should feel proud today.

Energy saving

“The immediate significance of the merger is the dramatic impact on energy consumption, and it also represents the first step in the process that will lead to the very widespread adoption of Ethereum,” said StarkWare President and Co-Founder Eli Ben Sasson.
Co-founder Eli Ben Sasson said, “It starts a chain reaction of changes. The end result will be the very widespread use of the computing power of Ethereum, and the general population’s use of blockchain-based applications in many different areas of life.”
Firms that issue Ethereum-based ETPs have been busy making their own adjustments.


Bradley Dock, CEO of European cryptocurrency issuer ETC, explained that the company has prepared a “forked version” of an ETH-based ETP in case there is significant support for a PoW fork after the merger.
"If enough people stand at a crossroads for whatever reason, we feel the free market will decide what should live and what should not live," Duke added.
With the merge complete, "Surge", "Verge", "Purge" and "Splurge" are the remaining final stages on the Ethereum tech roadmap.
Surge will increase scalability for compilation through fragmentation, Verge will achieve statelessness through Verkle trees, Purge will remove historical data and technical debts, and Splurge will include a number of small miscellaneous upgrades.

side opposition

One of the biggest transformations in blockchain history did not go unchallenged as ETHW Core, a group representing proof-of-work miners, announced that it would conduct a hard fork within 24 hours after the merger.
The formal integration of Ethereum into the 15537393 block took place on Thursday at 06:42:42 UTC, moving the network from PoW to PoS.
In return, famous designer Beeple celebrated the merging of sci-fi illustration.



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