Shackpets | Available on iOS and Google Play Store

Ethereum (ETH) completes 'The Merge' in transition to proof-of-stake

The transition known as The Merge has been completed 'officially deprecating proof-of-work and reducing energy consumption by 99.95 percent' according to the Ethereum website.

16

Back in July, Ethereum developers proposed a tentative date of September 19 for “The Merge” and now, a few days ahead of that mark, the transition to proof-of-stake has been completed. The news comes courtesy of the official Ethereum website which further outlines what The Merge is and its impact on things like the reduction of energy consumption.

Not only does The Merge reduce energy consumption, it also improves scalability and security via its new proof-of-stake consensus layer, the Beacon Chain. With this, the need for energy-intensive mining has been eliminated, and has enabled the network “to be secured using staked ETH.”

Originally, the Beacon Chain wasn’t processing Mainnet transactions according to the Ethereum website. However, after The Merge, the Beacon Chain has now become “the consensus engine for all network data, including execution layer transactions and account balances.”

Screenshot from Ethereum website showing a detailed explanation of The Merge and transition to proof-of-stake.
© Ethereum

The term “Eth2” has also been “deprecated” through The Merge as “Eth1” and “Eth2” have merged into a single chain. Moving forward, there’s no need to distinguish between the two as “there is just Ethereum.”

And for those who may be concerned about any loss of history as a result of The Merge, the website assures that no history was lost during the process of merging Mainnet with the Beacon Chain.

Additionally, The Merge didn’t change anything for Ethereum holders and users. To learn more about The Merge, be sure to pay a visit to the official Ethereum website. For more on cryptocurrency in general, also check out some of our previous coverage including the recent partnership between Square Enix and Oasys blockchain.

Senior Editor

Morgan is a writer from the frozen wastelands of Maine who enjoys metal music, kpop, horror, and indie games. They're also a Tetris fanatic who's fiercely competitive in games like Tetris 99... and all games in general. But mostly Tetris. You can follow Morgan on Twitter @Author_MShaver.

From The Chatty
  • reply
    September 15, 2022 10:35 AM

    Morgan Shaver posted a new article, Ethereum (ETH) completes 'The Merge' in transition to proof-of-stake

    • reply
      September 15, 2022 5:44 AM

      I know y’all love crypto so much here but I did at least want to celebrate Ethereum completing its upgrade (“the Merge”) last night, moving from proof-of-work to proof-of-stake and reducing its carbon footprint by about 99.95%.

      Ape gifs are still stupid but at least they’re stupid without killing the planet now.

      • reply
        September 15, 2022 5:51 AM

        So that means one specific branch of this tech has "upgraded" which means that every interface in the world that uses that tech also now needs to upgrade to see the benefits? And best case scenario for when this migration is fully complete: looks like Etherum is 20% or so of the crypto market share. So, a drop in the bucket. A for effort, Etherium, you tried I guess.

        • reply
          September 15, 2022 5:52 AM

          20% sounds significant

          • reply
            September 15, 2022 5:54 AM

            How many decades will it take for every piece of tech that comprises that 20% to make the upgrade? And in the meantime, what about the other 80% of this market?

            • reply
              September 15, 2022 5:58 AM

              Well most of the projects probably won't be around in the next 2 years anyway.

            • reply
              September 15, 2022 6:57 PM

              I don't think they can run on the network if they don't make the upgrade, like, yesterday.

        • reply
          September 15, 2022 6:04 AM

          The backbone has been upgraded so blockchain consumers do not need to additionally upgrade in order to reduce their carbon footprint. For all intents and purposes Ethereum transactions are low carbon now.

          • reply
            September 15, 2022 6:07 AM

            That's obviously objectively pretty great. I retract 20% snark. Do you know about any similar moves being made with Bitcoin? If something like this happened for the major player in the market I would be a lot less hostile to cryptocurrency as a general concept.

        • reply
          September 15, 2022 7:35 AM

          "The merge will reduce worldwide electricity consumption by 0.2%"

          https://twitter.com/VitalikButerin/status/1570299062800510976

          eh, it's something I guess.

        • reply
          September 15, 2022 7:50 AM

          it's a backwards compatible replacement of the entire platform with an acceptable defect rate of 0% and a requirement for high availability.

          This is one of the most difficult technical projects there is, and to launch it successfully (fingers crossed) without issue is amazing.

          • reply
            September 15, 2022 8:15 AM

            I wish ADA could have the same sort of success with their upgrades, it's been rocky lately.

      • reply
        September 15, 2022 7:33 AM

        i am enjoying watching it and seeing where all the miners settle

        ETC hashing nearly doubled! lol

      • reply
        September 15, 2022 8:04 AM

        Graphics cards for everyone! Seriously this merge is going to kill most mining, at least the mining that hasn't already died since the crypto crash.

        • reply
          September 15, 2022 10:11 AM

          My guess is that another coin is going to be minable and profitable when new cards launch.

      • reply
        September 15, 2022 8:05 AM

        I'm curious how BTC will fare over the next year in response to this

      • reply
        September 15, 2022 8:28 AM

        I don't believe they reduced their carbon footprint at all, that's marketing bullshit

        • reply
          September 15, 2022 8:55 AM

          well...they did. The Ethereum blockchain used to be run by an enormous amount of wasted GPU cycles. As of today, that's just no longer the case. The blockchain advances blocks through a completely different and far less wasteful mechanism.

        • reply
          September 15, 2022 8:59 AM

          No bullshit. Proof of work aka mining is now irrelevant.

        • reply
          September 15, 2022 9:02 AM

          It's pretty basic math... if an operation took X cycles to compute before and now it takes Y cycles, the delta is your cost savings.... it's not really a thing you can have an opinion on

          • reply
            September 15, 2022 9:23 AM

            i just doubt everything any tech company or platform says at this point, everyone lies and it's exhausting trying to keep track of what is real and what is bullshit

        • reply
          September 15, 2022 9:20 AM

          lol....ooooooook.

        • reply
          September 15, 2022 10:12 AM

          I don't believe so it ain't true!

        • reply
          September 15, 2022 12:22 PM

          we didn't go to the moon either, right? just marketing bullshit

        • reply
          September 15, 2022 6:59 PM

          This isn't a thing they can fake, so

      • reply
        September 15, 2022 9:07 AM

        Happy Merge Day to you, Cloud of Darkness.

      • reply
        September 15, 2022 10:20 AM

        When does ether take over bitcoin?

    • reply
      September 19, 2022 9:48 AM

      What is the ens to read click here https://www.jajoriya.com/2022/07/what-exactly-is-ethereum-name-service.html

Hello, Meet Lola