Ethereum 'Merge' is now complete!

The Ethereum network has today moved from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) model.

The merge is expected to reduce energy consumption on the network by 99 percent and net annual issuance of ETH by 90 percent.

For ETH holders, as the merge is successful, the crypto they now have is powered by a different mechanism.

“The ETH merge is now successful and the chain has moved to PoS (Proof-of-Stake).

“The Ethereum Merge is a pivot of unprecedented scale and complexity in the crypto ecosystem.

Ethereum is the second largest cryptocurrency in terms of market cap today and most widely adopted among developers and DeFi projects.

Experts say that the merge will replace the consensus mechanism, but it will not increase the capacity of the Ethereum network.

“The merge could lead to forked chains similar to Ethereum Classic (ETC) which split from Ethereum in 2016,” said Vikram Subburaj, CEO of Geotus crypto platform.

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