An estimation on the blog of the Ethereum Foundation claims that the merger will reduce total energy consumption by at least 99.95%, but not everyone is convinced of the advantages. We are witnessing Ethereum and its merge transition to the beacon chain.
The second-largest cryptocurrency is scheduled to switch to a more environmentally friendly model, which may attract new investors who believe that bitcoin's model consumes too much electricity, according to the most recent countdown. Ethereum users anticipate the significant network upgrade to start around 10pm PST.
As its execution layer integrates with the novel Proof-of-Stake consensus layer known as the Beacon Chain, the Ethereum blockchain will pivot away from its energy-intensive Proof-of-Work consensus mechanism.
The alleged "Merge" is comparable to retrofitting a rocket ship after it takes off: "It is an epic engineering feat."
As initially disclosed by Cointelegraph, the Merge will witness ETH, the native ...