One year ago, on September 15, Ethereum (ETH) went through a major update that changed the Ethereum Network in its roots by ultimately moving from a Proof of Work (PoW) to a Proof of Stake (PoS) system.
This update was called ‘The Merge’, as it merged the Beacon Chain with Ethereum’s mainnet, resulting in the Ethereum 2.0 network, which is 99% less costly to keep than the old network with massive consumption of energy and electronic device waste.
With a lower maintenance cost for validators, The Merge also decreased validators’ block rewards from supply inflation, dramatically impacting ETH’s tokenomics for what enthusiasts started calling “ultra-sound money”.
Together with the London Upgrade — that happened one year before The Merge, in August 2021 — these changes can be seen in economic analysis, such as the price ETH would trade at if Ethereum reaches its all-time high market cap.
ETH tokenomics data since The Merge
Data retrieved by Finbold on September 15 from ul
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