Ethereum Merge Completes Transition to Proof-of-Stake
Key Highlights of the Ethereum Merge
The Ethereum Merge officially completed on September 15, 2022, at 06:42:42 UTC. This milestone marked the full transition of the Ethereum network from proof-of-work (PoW) to proof-of-stake (PoS).
At block 15537393, the Ethereum mainnet execution layer merged with the Beacon Chain’s consensus layer, reaching the Terminal Total Difficulty of 58750000000000000000000. This transition signifies the end of Ethereum’s reliance on energy-intensive PoW, embracing a more sustainable and efficient PoS consensus mechanism.
What’s Next for Ethereum?
The Merge is a foundational step toward Ethereum’s scalability, security, and sustainability goals. By eliminating the need for energy-intensive mining, the network is expected to reduce its energy consumption by approximately 99%. This shift also paves the way for future upgrades, including sharding and other improvements to enhance transaction throughput and network performance.
Investors and traders are closely monitoring the impact of this transition on Ethereum’s price and adoption. The successful completion of the Merge is widely seen as a positive development for the blockchain ecosystem, potentially influencing the broader cryptocurrency market.
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