Ethereum Merge Completed, a New Era for the Blockchain Starts

by in Blockchain News

Ethereum Merge Finalized

Ethereum Merge happened on September 15, Google says.

Related: SEBA Bank Launched Ethereum Staking for Institutions

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.

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.