Introduction
The Ethereum Merge marked a historic milestone in blockchain technology, transitioning the network from Proof-of-Work (PoW) to Proof-of-Stake (PoS). This report captures critical network behaviors observed during this pivotal event.
Key Highlights of the Merge
- Seamless TTD Achievement: Ethereum flawlessly reached the Total Terminal Difficulty (TTD) threshold without disruptions.
- Validation Handoff: Block production successfully transferred to Consensus Layer (CL) validators with zero operational anomalies.
- Exceptional Uptime: CL validators maintained near-perfect performance, with only one missed slot across two critical post-merge epochs.
- Network Stability: Post-merge finalization occurred as expected, with participation rates sustaining chain security.
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Technical Performance Metrics
Validator Slot Analysis
We monitored CL slot statuses via Lighthouse nodes, visualizing epoch performance (1 epoch = 32 slots). Key findings:
| Metric | Pre-Merge | Post-Merge |
|---|---|---|
| Successful Slots (%) | 99.8% | 99.7% |
| Missed Slots | <1% | <1% |
Green slots indicate successful block proposals; red slots denote missed blocks typically caused by validator downtime.
Merge Execution Timeline
- TTD Trigger: Epoch 146,875 (Block 4,700,013)
- Finalization: Achieved within 13 minutes post-TTD
- Error Rate: Maintained pre-merge levels (~0.3%) through epoch 146,968
Post-Merge Chain Dynamics
Block Production Changes
- Predictable Intervals: Average block time stabilized at 12 seconds (vs. PoW's probabilistic timing)
Fee Distribution:
- 15+ blocks had fees routed to burn addresses due to validator misconfigurations
- Priority fee collection variance among validators
Miner Migration Patterns
Ethereum Classic Hashrate Surge
- Immediate Difficulty Spike: ETC network hashrate increased 4x post-merge
Economic Reality:
- Daily ETC miner revenue ≈ 1/40th of pre-merge ETH earnings
- GPU mining profitability continues declining industry-wide
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Historical Context
This achievement fulfills Ethereum's original 2014 whitepaper vision stating: "Ethereum may eventually transition to a proof-of-stake model." The Merge represents one of the most complex live network upgrades in blockchain history.
FAQ: Ethereum Merge Aftermath
Q: Did the Merge cause any chain reorganizations?
A: No. All blocks finalized as expected without reorgs.
Q: How does PoS impact transaction speeds?
A: Block times became more consistent (12 sec avg), though throughput remains similar.
Q: Are GPU miners completely obsolete now?
A: While some migrated to ETC, most face unsustainable returns due to low profitability.
Q: What percentage of validators were active post-merge?
A: Participation rates exceeded 98%, meeting finalization thresholds.
Q: Can validators lose staked ETH for poor performance?
A: Yes, but observed penalties were minimal (<0.1% of slots).
Conclusion
The Merge's technical execution sets a new benchmark for blockchain upgrades. While operational challenges like validator address configurations require attention, the network demonstrates remarkable resilience in its new PoS era.