Google Announced Ethereum Merge Countdown Clock
The Ethereum merge is expected to happen this week. The most awaited event for crypto enthusiasts, the merge will transform the Ethereum network from a Proof-of-Work (PoW) model to a Proof-of-Stake (PoS) system. This will lead to the creation of Ethereum 2.0, or ETH 2.0. To celebrate the merger, Google has set up a countdown timer, with two cartoon pandas slowly getting closer to merging.
Ethereum Merge: How to See Google’s Countdown Timer
To check out the special countdown timer, all you need to do is go to Google Search, and search for “The Merge”.
Once you’ve done that, you’ll see the Ethereum Merge countdown timer, which at the time of writing stood at 1 day 15 hours 54 minutes. Based on the timer, the merge should happen sometime on September 15th.
The countdown timer is an estimated clock, based on the merge difficulty and hash rate. For the uninitiated, hash rate is used to measure compute power on a crypto network, serving as a primary security indicator.
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As a fun element, Google has included two animated bears — one white and one black — moving closer to each other as the merge approaches. Once the countdown reaches zero, the two bears will join together to form an adorable black and white panda.
Ethereum Merger: Why is it important?
The integration will essentially see a 99% reduction in the energy consumption of operations on the Ethereum network. This will ultimately allow greater scalability and lower cost. This is purely a technical update and will not have any direct financial impact other than price rises and falls of crypto tokens like Ethereum (ETH), Bitcoin (BTC) and others.
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In PoS, the processing does not consume much energy, the transaction is relatively cheap, and finally, it is protected from a major attack on the network, because the compensation structure is designed in such a way that the attack is less profitable. Makes a man.
In PoS, users have to offer their coins as collateral to validate their blocks. Users who stake coins are called validators. These validators are randomly selected to validate the block, or ‘mine’. This reduces competition among stakeholders.
While earlier reports suggested that you’d need to stake 32 Ethereum coins to run a node (sync your own self-verified copy of ETH), the Ethereum network on its official site But clarified that “No ETH is required. Not before the merge, not after the merge. Never.”
The site also said the merger would not reduce gas fees because the merger “is an expansion of network capacity, and will not result in lower gas fees.”
For those unfamiliar, a gas fee is the maximum amount of energy a user agrees to pay to complete a crypto transaction on the blockchain.
