More than four million voters are waiting with bated breath for the results of the Scottish independence referendum, a historic moment that could put a stop to the nation's 307-year union with the UK.

After the voting concluded on Thursday, many Scottish voters opted to stay up to await the results that could change their lives, affect the worldwide financial market and fuel the thrust of independence groups in the region, according to The Huffington Post.

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The official counting was done immediately across all 32 regional centers in Scotland. The vote counting is done with oversight from both the Yes and No sides. The final result is expected to be declared on Friday at Highland Hill near Edinburgh.

Preliminary results found the No vote in the lead at 54-36 percent in the Clackmannanshire. Results in the major cities of Glasgow and Edinburgh are not expected until later in the day, said the report.

According to the Associated Press, at least 4.2 million Scots had registered to vote but only 97 percent were eligible. But the figures are still high as early turnout in some of the regions reached their highest at range of about 75 to over 90 percent.

The polls suggest the results could go either way. Some at the No camp said they felt they had convinced enough of those undecided to vote in their favor but the Yes campaign has also managed to energize the youth and the disheartened working class.

A final Ipsos poll released on Thursday said the No side won over the Yes side at a 53-47 percent with a margin for error of plus or minus 3 percent.

If the Scottish independence is declared, it would trigger months of negotiations to address the separation of Scotland and Europe before the former's planned Independence Day on March 24, 2016, the report said.

Many questions still need to be answered including the new currency to be used, its standing in the European Union and NATO and the future of UK's nuclear submarines which is based on Scotland's port.

Either way, Scotland would not allow the status quo to return, the Yes camp said. Even if independence was not to be, Scotland is going to be different, said Radical Independence Movement member Luke Campbell.

However, the No camp says the pro-independence movement may trigger bad feeling among neighbors because of the divisive issue.

Former Prime Minister Gordon Brown and other anti-independence personalities urged the citizens not to cut off ties with the rest of the UK, stressing the economic repercussions the Scottish independence would bring.

TagsScotland, UK, Europe, independence referendum