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In a nutshell, Ethereum Merge was intended to increase processing power, enhance security, and significantly reduce energy consumption. Cryptocurrencies sought to achieve this by merging two versions of the consensus mechanism that were running in parallel.
Before the integration, the Ethereum blockchain had a Proof of Work (PoW) consensus. This required miners to harden their computing hardware in order to solve puzzles in order to evade Sybil attacks. The merger removed PoW in favor of Proof of Stake. This new version no longer requires miners to use energy to add blocks to the blockchain. After the merger, Ethereum is projected to consume 99.5% less energy than when he used PoW.
Following the Ethereum merger on September 15, 2022, BonusInsider has confirmed that the number of daily Ethereum transactions has decreased over the two weeks compared to the previous year. To gauge the impact of the consolidation on Ethereum holder behavior, the online betting platform conducted a survey of 1,225 Ethereum adopters during the first week of November 2022.
According to BonusInsider’s findings, the majority of Ethereum holders have either never traded or made less than 10 trades. A total of 389 people (31.7%) explained that they do not use Ethereum for trading. On the other hand, 505 (41.2%) said he sends between 1 and 9 Ethereum transactions per month.
26.9% represented more active Ethereum users. Of these, 17.9% said he made between 10 and 19 Ethereum transactions in her one month. Only 9% have more than 20 deals.
The betting platform also aimed to better understand how cryptocurrencies are being used. Despite its generally lower volatility compared to other cryptocurrencies, many hope to benefit from holding digital currencies for the long term.
Following similar thoughts, 26.9% of Ethereum users surveyed bonus insider Guess on the crypto market. In this method, people speculate about price movements of cryptocurrencies and buy and sell underlying coins.
18.2% of people used Ethereum to buy goods and services. What makes up the remaining percentage of Ethereum usage is:
