Translation
Then I heard a sound like a great multitude, and the sound of many waters, and the sound of mighty thunder, saying, “Hallelujah, for the LORD
Our GOD,
THE ALMIGHTY,
has reigned.
Paraphrase
Then I heard a sound
like a great multitude,
a voluminous and expansive sound, a mighty and powerful sound, saying,
“Praise the Lord, for THE SUPREME RULER, THE CREATOR AND OWNER OF ALL THINGS whom we serve, THE ALL-POWERFUL ONE has reigned.
“Has Reigned”
This is a statement made by the faithful followers of Jesus. The original language does not say “reigns,” but rather, “has reigned.” Many translators of Scripture see this as another way to state that “God reigns.” They would explain that a present tense construction would emphasize the fact that God is reigning now, while this use of the aorist tense points to how God has reigned up till now (and by implication how He is still reigning right now). The conclusions sound similar.
However, for someone who has come through severe persecution, there is an important difference between the two. By using an aorist tense verb they are clearly proclaiming that Jesus never left them, but rather was closest to them in the midst of their oppression and persecution. When things were at their worst, they never doubted God’s sovereign will; they simply trusted Him completely despite any hardship they went through. It is not so much a statement of God’s present reign, but of His past faithfulness, and thus His worthiness of our continued trust.
The aorist tense also does a better job of communicating the completeness of God’s reign; it is not complete in a sense of time, but complete in extent and degree of power. This fits perfectly with the attitude of the faithful. They never doubted the completeness of God’s reign even when it was not visible to the human eye.