ETH Merge

The ETH Merge, also known as "The Merge," refers to the event where the Ethereum blockchain transitioned from a Proof-of-Work (PoW) consensus algorithm to a Proof-of-Stake (PoS) model. This transition was one of the most anticipated upgrades in Ethereum's history, aiming to improve the network's energy efficiency and scalability. The Merge took place on September 15, 2022, when Ethereum's original PoW chain, which relied on miners to validate transactions, was merged with the PoS-based Beacon Chain. The Merge allowed validators, instead of miners, to confirm transactions, drastically reducing the network’s energy consumption by around 99.95%. Before the Merge, Ethereum was often criticized for its high energy usage due to PoW mining. Post-Merge, Ethereum became far more energy-efficient and environmentally friendly, paving the way for future upgrades like sharding, which aims to improve scalability and reduce transaction costs.