Introduction

The massive overhaul of Ethereum, known as Merge, has finally taken place, moving the core digital machinery of the second largest cryptocurrency by market value to a much more energy-efficient system after years of development and delays.

It has been no easy task to change one way of running a blockchain, known as proof-of-work, to another, called proof-of-stake.

The merge is an event that has been waited for all of the Ethereum enthusiasts due to during the past months, the network was converted in a high expensive platform, were miners started to mine at a low rates and some other important aspects that could be changed by the merge.

The question now is: what’s next? What will happen with Ethereum blockchain after this merge? Here we will try to find some metrics that could help as to assess something about that.

Methods

In this dashboard we are gonna investigate about different metrics that could help reader to understang what can happen after this merge action. The idea is to see if there was an increase or decrease the activity of miners, if the NFT sales have been altered or if the transaction fees have increased or decreased.

Let’s analyze this by doing some analytics regarding the following metrics:

• Average transaction fees over time

• Average gas used vs average GWEI

• Mining actions over time

• Miner with some activity over time

• Actions per miner over time

• Global miner statistics

• Transactions per block mined

Here we can se how the average transaction fees were increased from 2022 until now. However, the merge action affected on it and automatically the transaction fees returned to the previous 2020 values, reaaching again around 0.001 ETH per transaction fees.

Another important aspect is the the gas used and the GWEI price. In this case the right image shoe the relationship between them over time. It can be seen how the average gas used increased over time since the inception. However, the average GWEI had higher values in the first years but decreased until 2020. However, since 2020 the price was at a high levels. Now, we can see that after the merge it comeback to a lower levels.

Transaction fees statistics

Miners activity

The miners statistics is also important due to it validate the network actions. In this case, we can see how the number of transactions icnreased after the merge and the number of miners spiked since the Ethereum merge. A good signal for the network.

Looking at the mining actions voer time, we can see how it has been increasing over time since the inception. However, the numbers have been staked around 2020, when the number of daily actions rounded 45k from 2022.

Tracking the active miners over time, it can be seen how in this case, the activity was so high during the first weeks of 206, however, it has been decreasing over time reaching the lowest values on 2022. Passing from aorund 800 unique active miners to as low as 60 miners. After the merge, the number spiked again to top highest values over to 1k.

Finally, the minings per miner seems to be increased over time. In this case we can see how from 2016 to 2017 was the highest increase. But from 2020 to 2022 the number increased as well reaching around 600 actions per miner.

In the chart on the left, it can be seen in a better way the number of minings per miner over time, observing the high increase from 2016 to 2017 and reaching highest values in 2022.

Finally, the chart on the right, showws the global miner statistics. In this case, it can be clearly seen a comparison between the number of miners and the mining actions. In this case, it seems that there is no correlation between these variables because of even the mining actions increase, the miners remained constant. However, we can see a strong correlation between the mining actions and the number of minings per miner. Then, we can corroborate that when the number of mining actions increase, it could be supposed that more miners are active on the network.

Finally, another important aspect I think could be interesting to follow is the NFT activity. Since the Metaverse creation, we have seen a lot of interest on this. It should be one of the most interesting things for the Etherem growth during the nexts months.

In this case, we can see how in general, it has not changes so much since the merge. the number of sales seems similar and the number of buyers seems cosntant as well. On the other hand, the sales volume has decreased over 2022 and now the volume is at a low numbers.

Conclusion

Through this dashbaord, we have explored several aspects that could be useful for the Ethereum network performance over the next months or that could influence on it. The main aspects evaluated have been:

• Transactions fees
• Miners’ activity
• NFT activity

Some of the key insights extracted are:

• Transaction fees were increased from 2022 until now. However, the merge action affected on it and automatically the transaction fees returned to the previous 2020 values, reaching again around 0.001 ETH per transaction fees. It will be one of the main thing users will take into account in order to use or not the network.

• The miners statistics is also important due to it validate the network actions. In this case, we can see how the number of transactions icnreased after the merge and the number of miners spiked since the Ethereum merge. A good signal for the network.

• Since the Metaverse creation, we have seen a lot of interest on this. It should be one of the most interesting things for the Etherem growth during the nexts months. In this case, we have seen that in general, it has not changed so much since the merge.

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NFT activity