The Merge, the most significant Ethereum upgrade, has been completed after years of postponements.
The first Ethereum proof-of-stake block has been proposed, marking a new era for the second-largest blockchain.
Ethereum, the blockchain at the core of decentralized finance and NFTs, has been routinely criticized for consuming too much energy.
According to Ethereum researcher Justin Drake, the Merge will reduce worldwide electricity consumption by 0.2%.
Input Output CEO Charles Hoskinson described the merge as “a testimony” to scientific progress. He added that the successful implementation of the Merge blockchain is a victory for the entire industry, not just the Ethereum blockchain.