The community reacts with memes, GIFs and tributes

Less than a day has passed since Ethereum’s historic transition to proof-of-stake, with most of the crypto community still in turmoil following the successful merger.

On September 15 at 06:42:42 UTC, the last Ethereum block using the old proof-of-work consensus mechanism was mined. Its replacement is an energy-efficient proof-of-stake consensus mechanism.

Many crypto enthusiasts and climate advocates around the world were delighted by the positive impact it will have on the environment and therefore on the reputation of crypto.

Others have just been impressed by the technological feat of upgrading an entire blockchain network without any downtime.

Uniswap Labs Founder and CEO Hayden Adams told his 232,200 Twitter followers on Sept. 15 that reducing Ethereum’s power consumption will “enhance the public image of the network” more than anything else. in “all its history”.

According to the Ethereum Foundation, Ethereum’s new PoS consensus mechanism should reduce energy consumption of the entire network by 99.95%.

Adams thinks “people massively underestimate this aspect of fusion.”

Ripple Labs CEO Brad Garlinghouse on Twitter called it’s a “truly incredible feat of technology”, and NFT Yuga Labs told its followers it’s a “big step” in scaling Ethereum to its “first billion”. of users”.

Nischal Shetty, founder and CEO of Indian crypto exchange WazirX shared his congratulationsnoting that Ethereum is the “OG of smart contracts” and has played a major role in building the Web3 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.

Others, however, are skeptical of Ethereum’s new consensus mechanism.

Freelance journalist Jordan Schachtel said the merger effectively transformed Ethereum into a “WEF (World Economic Forum) coin” that “by design will put all value and control in the hands of the people at the top.”

Cardano enthusiasts on the @Cardanians_io Twitter account said the Ethereum merger would do nothing to change its high transaction fees and scalability issues.

The account added that the Vasil fork of Cardano would improve the scalability of the Cardano network. The account shared that “Ethereum is essentially catching up with Cardano.”

Related: Community celebrates merger by dropping ETH-inspired art and music

Earlier this week, StarkWare chairman and co-founder Eli Ben-Sasson told Cointelegraph that the Ethereum merger is “like completing a rocket launch” in that there will still be a journey ahead of us.

According to Buterin, the merger was the first step in this five-part process that will eventually bring the smart contract blockchain to an “endgame” of Ethereum development.

Leave a Comment