Editors News- ETH has now completed The Merge and is anticipated to move in a bullish state.
- ETH blockchain has changed from Proof of Work (PoW) to Proof of Stake (PoS) consensus.
The biggest upgrade of the blockchain industry is finally live as The Ethereum Merge is complete. This marks the beginning of the Ethereum 2.0 era. And The Merge has changed the Mainnet into the consensus layer and the beacon chain into the execution layer. The ETH blockchain has changed from Proof of Work (PoW) to Proof of Stake (PoS) consensus.
The ETH Merge
The Merge includes three prominent testnets Ropsten, Sepolia, and Goerli, making the Ethereum network advance towards the actual Merge transition. As per the developers, it includes two upgrades Bellatrix and Paris.
The Merge leads to a cutoff of energy consumption of nearly 99.95%and Ether becomes a Deflationary token and it also leads to a 0.6% drop per year.
Now the ETH is going to focus on the next upgrade that is Shanghai Upgrade. The upgrades ‘The Surge, The Verge, The Purge, and The Splurge’ is queued up next.
Since, the 2nd largest cryptocurrency has successfully entered into PoS. The miners are anticipating to see the ETH in a bullish state.
At the time of writing ETH is trading at the price of $1.607.33 with circulating of 122,372,547.44 ETH and 24hours volume $20,076,770,064 and market cap $196,665,715,43.
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Source: https://thenewscrypto.com/ethereum-community-bullish-as-the-merge-is-completed/