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Vitalik Buterin, the founder of Ethereum, described this successful upgrade as “a major occasion for the Ethereum ecosystem” and displayed natural happiness along with the rest of the Ethereum community.
Several significant Bitcoin maximalists, or “maxis,” expressed their reaction to the Ethereum network switching from proof-of-work (PoW) to proof-of-consensus (PoS) shortly after the Merge upgrade was finished in the early hours of September 15.
However, a number of well-known Bitcoin maxis, who generally hold the opinion that Bitcoin is the only legal cryptocurrency, except from fiat-backed stablecoins like Tether ($USDT), were quick to indicate that they were unimpressed with Ethereum’s switch to PoS consensus.
According to reports, more than 41,000 individuals were watching a “Ethereum Mainnet Merge Viewing Party” on YouTube as the Merge began in earnest at 6:43 a.m. UTC. They waited in anticipation as important numbers trickled in, showing that Ethereum’s fundamental systems had held up. The Merge finally completed after roughly 15 arduous minutes, at which point it was deemed successful.
Erik Voorhees of Shape Shift took on the same concept, but went a little too far: “The pure triumph of human creativity demonstrated by the Ethereum merging is incredibly exciting. It took place without the control of a corporation, without the use of government force, and without the use of politicians, patents, or borders.
“It’s an absolutely remarkable feat to migrate a widely utilized blockchain to PoS without most end users even seeing or needing to do anything,” the Ethereum maximalist Eric.eth said in keeping with his name.
John Carvalho from Synonym outlined the scenario and went after the cost. Ethereum, the biggest and most contentious rival to Bitcoin, stopped competing for hashrate today and fully converted to a corporate security in a move dubbed “The Merge,” which caused ETH prices to drop 12%.
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