What Is The Ethereum Merge?
One of the most eagerly awaited cryptocurrency events in history is the Ethereum Merge.
– Ethereum Mainnet uses proof-of-stake, but this wasn't always the case.
– The upgrade from the original proof-of-work mechanism to proof-of-stake was called The Merge.
– The Merge refers to the original Ethereum Mainnet merging with a separate proof-of-stake blockchain called the Beacon Chain, now existing as one chain.
– The Merge reduced Ethereum's energy consumption by ~99.95%.
This completed Ethereum's transition to proof-of-stake consensus, officially deprecating proof-of-work and reducing energy consumption by ~99.95%.
Learn more about The Merge’s purpose, need, and potential difficulties.