Ethereum Merge Goes Live

 

Ethereum Merge Goes Live

The Ethereum blockchain just underwent the so-called "Merge", switching from proof-of-work (PoW) to proof-of-stake (PoS).

"We're good. It's done. We Merged," Tim Beiko, one of the Ethereum lead developers, tweeted.

The Ethereum Foundation said the Merge will make the Ethereum network about 99.95% more energy efficient and will set the stage for future scaling solutions, including sharding.

Following the upgrade, Ethereum GPU miners will no longer be getting rewards for mining.

The price of ETH jumped about 3% within an hour of the Merge.

Business Digest

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