Ethereum completes the merge

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Updated September 21, 2022 | Published September 16, 2022

2 mins read

Ethereum has completed its software upgrade, known as the ‘merge’ to adapt to a more energy-efficient method of minting new tokens.

As of yesterday, the decentralized open-sourced blockchain no longer operates a proof-of-work (PoW) consensus mechanism.

For years the blockchain operated on a PoW which required a vast amount of power and was not only considered environmentally damaging but difficult to scale and very costly for smaller transactions.

Now, Ethereum will be minted by more sustainable proof-of-stake (PoS) methods to protect the environment with greener crypto transactions and solve the blockchain’s scalability issues.

The shift will cut the network’s energy usage by 99.95%, according to the Ethereum Foundation.

Ethereum co-founder Vitalik Buterin took to Twitter to make the announcement.

“And we finalized! Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today”, he wrote.

The upgrade, albeit long-awaited, may pave the way for the rest of the crypto industry to follow suit and prevent further environmental harm caused by mining.

If you want to use your cryptocurrencies for recreational purposes, you can explore entertaining and trusted websites such as 1xBit, Bitcasino or FortuneJack.

Isabella Aslam

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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