Ethereum Merge Is Now Live, Bringing Second-Largest Crypto Asset Into New Era

Ethereum Merge Is Now Live, Bringing Second-Largest Crypto Asset Into New Era


Ethereum’s (ETH) long-awaited and highly-anticipated merge has been activated.

The massive update switches the second-largest cryptocurrency by market cap from a proof-of-work consensus model to proof-of-stake.

The change allows Ethereum holders to stake their coins in return for rewards, and transforms the network into a far more energy-efficient model for processing and verifying transactions. Ethereum’s overall energy use is expected to plummet by about 99.9%.

Trending: Chicago Criminal Attempts to Rob Florida Gas Station, Instantly Regrets His Decision

The switch to proof-of-stake is also set to have a dramatic impact on Ethereum’s rate of inflation.

The Ethereum Foundation says the number of new ETH entering the market will witness a major drop.

About 13,000 ETH were issued per day before the merge – a number that will now drop to about 1,600 ETH per day.

One thing the

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend