Around 7:00 a.m. UTC on September 15, Ethereum’s Merge upgrade was completed, meaning that the Ethereum network currently only uses the PoS consensus mechanism.
The consensus and execution layers have been merged which means Ethereum is now a full Proof of Stake network!
A heartfelt thank you to all the people that made this happen – your names will be forever etched in the history books of Ethereum.
The Merge is here 🐼 pic.twitter.com/WYGEPIbUe7
— sassal.eth 🦇🔊 (@sassal0x) September 15, 2022
Ethereum Founder Vitalik Buterin called this successful upgrade “a pivotal moment for the ecosystem. Ethereum attitude”:
And we finalized!
Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.
— vitalik.eth (@VitalikButerin) September 15, 2022
Martin Köppelmann, Co-Founder and CEO of Gnosis commented on the level of stability Ethereum network’s intentions after The Merge:
The block times of the last 100 blocks!
Amazing stability after the merge! Only 1 missed block.
This is really the best case scenario! pic.twitter.com/dV1PF70vCL
— Martin Köppelmann 🇺🇦 (@koeppelmann) September 15, 2022
Joseph Lubin, Co-Founder of the Ethereum Foundation and Founder of ConsenSys, has Congratulations to the Ethereum community:
Epoch's are finalizing. Proof of Stake Ethereum is here!
Congratulations to the entire community. 🐼 pic.twitter.com/oRZBRCRgPc
— Joseph Lubin (@ethereumJoseph) September 15, 2022
Binance tweeted that $ETH deposits and withdrawals have been restored:
— Binance (@binance) September 15, 2022
According to TradingView data, on cryptocurrency exchange Bitstamp, a few minutes after The Merge (around 7:20 a.m. UTC on September 15), ETH/USD rose to $1,652. Currently, ETH/USD is trading around $1,624.
An hour after The Merge was completed, one of RoverX’s co-founders posted a photo commemorating the event in Bengaluru, India:
— marupelkar.eth (@MaruPelkar) September 15, 2022