Ethereum Proof of Stake (aka “The Merge”): What is the impact on DeFi Locked Value & Transactions?

Colleagues, we are now four months into Ethereum’s implementation of Proof of Stake.  Software engineers and end-users alike are asking themselves about the impact of “the Merge”. PoS is a consensus mechanism used to validate cryptocurrency transactions. With this system, owners of the cryptocurrency can stake their coins, giving them the opportunity to check new blocks of transactions and add them to the Blockchain protocol on which their asset is based.. The Merge joined the execution layer of Ethereum Mainnet that has existed since its inception with its new proof-of-stake consensus layer, the Beacon Chain and eliminated the need for energy-intensive mining and instead enabled the network to be secured using staked ETH. Yes, this merge has been widely anticipated, however, has it met (or exceeded) its goals? Here are a few stats (Source: Ethereum.org): 

• ETH Price:: Latest price for 1 whole whole ETH = $1,629 (USD)

• Value Locked in DeFI:The amount of money in decentralized finance = $48.95B (USD)

• Transactions: Successfully processed on the network in the last 24 hours = 994.1K

• Node Count: Ethereum is run by thousands of volunteers worldwide known as nodes = 11,680

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