X

Isabella from Charlotte

Signed up at ETH Play 22 minutes ago.

» Try ETH Play too
Do not show again

There had been significant anticipation in the cryptocurrency industry concerning Ethereum. The hype led to much speculation about changes with the events of the Ethereum merge. Have you already figured out how much faster Ethereum blockchain got after the merger? If not, continue below and learn about what happened to both the speed and costs.

Crypto Lists provide information on the Ethereum Merge and possible assumptions on what it means for projects and the broader ecosystem.

Ethereum’s Switch

The Merge completion indicates Ethereum’s switch from proof of work to the proof-of-stake mechanism for verifying transactions on the blockchain. This reduces energy consumption and increases the security of the blockchain. Energy consumption has gone down by 99.99% with PoS validators only requiring to stake 32 ETH. This increases security by decreasing the danger of a 51% attack compared to a PoW system.

Many were hopeful that the Merge fixes Ethereum’s gas fees and transaction speed challenges by improving transaction speed and making transactions cheaper. The average user is yet to notice any significant changes regarding this. There is the expectation that noticeable changes will be after the network introduces the sharding mechanism scheduled six months after the Merge.

Costs and Speed Changes After The Much Anticipated Ethereum Merge

Below we explore some of the changes we’ve seen and anticipated to solidify in light of the move to the proof-of-stake consensus method.

Changes in transaction speed

Changes in Ethereum block transactions are negligible for the user to notice. However, this does not mean that it is not there. The transaction rate is faster as it moves from taking 13 to 14 seconds to mine one Ethereum block and the switch to a proof-of-stake system reduces the validation time for one block to 12 seconds. During Crypto Lists tests, some transactions can even be quicker in less busy periods of the day.

Changes in transfer costs

The Merge on September 15 seemingly went well after the much-awaited date. Soon after the Merge, the Ethereum network transfer costs were significantly lower. For further elaboration, in mid-May, high-priority transactions cost as high as 68 gwei. This was the equivalent of $2.97 per transaction. About ten days after the merge, high-priority transactions cost 93% less at 8 gwei, equivalent to $0.18.

Crypto Lists data analysis indicates that the average Ethereum fee has also had a significant drop since the Merge. The average fee on May 13 was $1.37 and the cost has been reduced to about $0.58 per transfer. This is a reduction of over 57%.

Rating: 9.5/10
Supply: 118,780,000 / 200,000,000
Release date: August 1, 2014

Description: Want to see the hype around Ether? Learn about the latest news, see facts and historic changes from our Crypto Lists review!

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.


The Merge has had an impact on the broader ecosystem as well. The gas tracker indicates that an Opensea Sale currently costs about cost $0.61 while in May it costs about $28.58. Additionally, soon after the Merge, a Uniswap decentralised exchange swap cost $1.58. In May, the cost incurred was approximately $26.07.

Transfer of ERC20 tokens has also significantly reduced. Sending ERC 20 tokens such as USDC currently costs about $0.46 per transaction. Earlier in the year, this would have cost $7.65 per transaction.

The Merge only lays the infrastructure for future solutions to issues such as high fees and congestion. The transaction costs have decreased approximately 80 to 90%, making it quicker.

General Impact of the Ethereum Merge

Many variables influence the price of ETH, and the move to PoS is estimated to reduce the amount of ETH issued per block by around 80 percent, which results in more efficient and cheaper transactions, which contribute to an increase in demand across the Ethereum network. The enormous decrease in energy usage is welcome news to investors and the general public who have raised concerns that the proof-of-stake consensus mechanism is overly costly to the environment.

The Merge has the potential to boost ETH’s value, facing ongoing challenges amid broader economic uncertainty. ETH prices could still rise in the coming days, and the only thing that one can truly rely on is more volatility.

With this transition to a less energy-intensive technology, crypto investments could rally to upwards of $10,000 while others remain bearish. It is all about pure speculation as many wait to see how investors and companies building their tech on Ethereum’s platform will respond to the changes.

How are things looking in October?

With worldwide geopolitical events affecting inflation, stocks, cryptos, and currencies in general, ETH is not immune. Overall, the currency is down in line with most other classes of assets. We’re currently in a bearish market, though many sources predict a rebound towards the end of Q4 or Q1 2023. Put simply it’s part and parcel of the macroeconomy.

Many blockchain and crypto companies are focusing on building their services and taking them to the next level so that they’re robust and secure in time for bullish sentiments to return.

Wrapping it up

The successful Merge will likely boost the price of all crypto assets and increase investors’ general confidence in the asset class. Congestion and high transaction costs, including gas fees, are a sore spot for ETH, and the Merge did not immediately change either of the issues. It’s a gradual process.

The Merge is not likely to significantly reduce gas fees in the short term. The upgrade is about a change in the consensus mechanism, which focuses on the method by which Ethereum validates transactions rather than capacity increase.

The Merge will depreciate PoW and transition the blockchain to PoS, and the process will influence the blockchain’s capacity. Ethereum’s move to PoS has the potential to increase its adoption across corporate treasuries and other significant platforms.

by Our Two Certified Authors
Ether Newsflash
    Mirror on the wall, what's the best ETH Play game of all?Mirror on the wall, what's the best ETH Play game of all?
    Wednesday, 14 Feb 2024 7:18 am
    We guess it's that time of the week again when we've got to bring you the latest and greatest about some of the best crypto casinos of them all. Today's turn is the amazing ETH Play and we're looking at our favorite game of the week. Considering we absolutely love crash and instant win games here at Crypto Lists, we've gotta go with Space XY (review). If you're looking for ridiculous amounts of on-the-go fun then you simply can't go wrong with it. Simply pilot a rocket through X and Y coordinates while placing bets and chasing top multipliers. It's not rocket science. Har har. Play now and see if you can go to the moon...
    Read the full newsflash


    Player wins 10 Ether on Jonny Cash at ETH Play (5176x stake)Player wins 10 Ether on Jonny Cash at ETH Play (5176x stake)
    Monday, 22 Jan 2024 11:25 am
    With Crypto Lists, there is always a pot of luck just around the corner. And, this January there are pots overflowing with it. One of the most iconic crash games paid off well to a lucky player coming from our site this weekend. A small bet on gave a 5176x reward when he played on ETH Play (see more). One of the best anonymous casinos on our site without doubt and one that has a really good ownership team that's really fair. A player this weekend (January 20-21, 2024) had an awesome time there playing on Gold Rush with Johnny Cash from BGaming (see dev). What did he win? A whopping 10 ETH coins straight to his wallet! Not bad. Not bad at all. At time of writing that's around 25,000 USD. Congratulations to Mr. A from the team here...
    Read the full newsflash


    Feel the adrenaline rush on ETH Play's high volatility gamesFeel the adrenaline rush on ETH Play's high volatility games
    Monday, 8 Jan 2024 8:33 am
    It's Monday and it seems the fans of ETH Play (discover it) are already out in droves, at least if Crypto Lists' readers are anything to go by! They're a vocal bunch of crypto gamblers and one section of the site that they love is the High Volatility slots section. You can find it by navigating to the 'Slots' category on the left hand side menu and then selecting the appropriate type of slot from the sections above the game title panels. You'll know it when you see it. Additionally, you can choose from types such as Megaways and Bonus Buy too. Sound good? Thought to. Play anonymously to your hearts content by registering for Eth Play now and seeing where this exciting new crypto casino...
    Read the full newsflash


    Say hello to ETH Play, 2024's hottest crypto casinoSay hello to ETH Play, 2024's hottest crypto casino
    Saturday, 6 Jan 2024 10:05 am
    It's Saturday, it's Saturday and it's time for some fun. And boy do we have a site to which you should run! Yesterday we launched the review of ETH Play (read it) - a no-KYC super site that comes from the founder of one of the best new Bitcoin casinos on Crypto Lists already. Tried and trusted, as they say. We've been waiting for this site to come to market for a long time, and we hope our readers are as happy with it as we are. A marvellous anonymous gaming experience with super-high RTP rates (among the best in the biz), you're guaranteed to have a whale of a time. Sign up to Ethplay right away and don't spend a single second longer...
    Read the full newsflash


    ETH Play: A brand new, no-KYC anonymous Bitcoin casino!ETH Play: A brand new, no-KYC anonymous Bitcoin casino!
    Friday, 5 Jan 2024 5:45 pm
    Ladies and gentlemen, let us proudly introduce you to one of the finest brands recently launched on to the crypto casino scene in 2024. The one, and the only ETH Play (see review). It's been a long time coming but it's finally here. The best thing about it is pretty simple: no KYC today when you sign up. No KYC when you deposit. No KYC when you withdraw your wonderful winnings either! That's right, no KYC ever. You can simply register now and play anonymously without a care in the world and put that crypto that's burning a hole...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
  • Gorilla logo
     Gorilla
    ETHEREUM-TOKEN
  • Dynasty Wars logo
     Dynasty Wars
    SOLANA-TOKEN
  • Kaspa logo
     Kaspa
    NATIVE-COIN
  • IOTA logo
     IOTA
    NATIVE-COIN
Keep up to date with
 

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
exclusives.
* indicates required
CryptoLists.com
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top