Ethereum’s upgrade was years in the making. The blockchain platform has successfully switched from approving transactions via maths problems to crypto holdings, a change known as the Merge. The new “proof of stake” model should reduce energy use by more than 99 per cent.
Hailed as a make or break moment for crypto, the Merge has helped to lift ether tokens nearly 50 per cent from their June low point. But prices remain well below last year’s high point. The crypto winter has not broken.
Ethereum’s Ether is the second best known digital token after bitcoin. Merging the main network with an ethereum network that already uses proof-of-stake transactions could help to overhaul crypto’s reputation as an environmental disaster.
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