Ethereum’s long-awaited switch to using less energy is here - The Verge

Ethereum, the second-biggest cryptocurrency in the world, has switched to proof-of-stake, a way of validating transactions that makes it less energy-hungry.

The Verge homepageThe Verge homepageThe VergeThe Verge logo./Tech/Reviews/Science/Entertainment/MoreMenuExpandThe VergeThe Verge logo.MenuExpandBusiness/Tech/CryptoEthereum will use less energy now that it’s proof-of-stakeEthereum will use less energy now that it’s proof-of-stake / The Merge has mergedBy Elizabeth Lopatto / @mslopatto

Share this story Illustration by Nick Barclay / The VergeEthereum, the second-largest cryptocurrency, has switched to proof-of-stake, cutting its energy demands. The transition, which has been in the works since 2016, won’t change much for the average Ethereum user, but it sidelines miners.

The switchover began on September 6th, when the Bellatrix upgrade was activated. It is now complete after the mining of the Terminal Total Difficulty block, which triggered the Paris upgrade. The technical part is done; now, we get to see what happens.

And we finalized!Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.

In the hours and days ahead there’s the risk of bugs, hacks, and price instability. There’s also the risk of forks, whereby multiple versions of Ether are created by miners on different chains resulting in confusion and an environment ripe for scams.

https://www.theverge.com/2022/9/15/23329037/ethereum-pos-pow-merge-miners-environment

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