Crypto Opinions & News The Ethereum Merge Is Done, Opening a New Era for the Second-Biggest Blockchain

[Pixelman]

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https://www.coindesk.com/tech/2022/09/15/the-ethereum-merge-is-done-did-it-work/

The massive overhaul of Ethereum known as the Merge has finally happened, moving the digital machinery at the core of the second-largest cryptocurrency to a vastly more energy-efficient system after years of development and delay.

It was no small feat swapping out one way of running a blockchain, known as proof-of-work, for another, called proof-of-stake. “The metaphor that I use is this idea of switching out an engine from a running car,” said Justin Drake, a researcher at the non-profit Ethereum Foundation who spoke to CoinDesk before the Merge happened. “I like to think of it as kind of like the switch from gasoline to electric.”

The payoff is potentially gigantic. Ethereum should now consume 99.9% or so less energy. From an energy costs perspective, it's like Finland suddenly shut off its power grid, according to one estimate.

The Ethereum Merge Is Done, Opening a New Era for the Second-Biggest Blockchain

The historic upgrade casts aside the miners who had previously driven the blockchain, with promises of massive environmental benefits.

www.coindesk.com