Believe it or not, Ethereum’s much-publicized merge is finally completed. After years of waiting, this technological feat represents a significant moment for the crypto industry.
The merge marks Ethereum’s transition from proof-of-work to a proof-of-stake consensus mechanism. From now on, ETH can no longer be mined. Instead, users will create new ETH and validate transactions through a process called staking. The proof-of-stake mechanism is almost 100% more ecologically friendly, offers more scaling possibilities, and is faster than mining.
The merge event went without hiccups. None of the many assets, apps, and DeFi systems running on Ethereum have been adversely affected.