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Ethereum Merge Completed, a New Era for the Blockchain Starts

source-logo  bctd.news 15 September 2022 05:43, UTC

Ethereum Merge happened on September 15, Google says.

The big update was finalized a few hours ago. Ethereum co-founder Vitalik Buterin congratulated the community on Twitter, saying everyone who helped the process to come true should feel very proud today.

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.

— vitalik.eth (@VitalikButerin) September 15, 2022

As known, with the Merge, Ethereum switches from Proof of Work consensus mechanism to Proof of Stake. The update is expected to decrease energy consumption significantly.

According to Ethereum researcher Justin Drake, the update will decrease worldwide electricity consumption by 0.2%. In addition, it is expected to be another step towards Ethereum’s goal to achieve full scalability.