Ethereum completes its merger and “celebrates” it with falls

Ethereum completes its merger and “celebrates” it with falls

After several delays, the merger of Ethereum has finally been completed. The network update, known as β€œThe Fusion”, will change the consensus mechanism Proof-of-Work (PoW) to Proof-of-Stake (PoS).

The milestone was reached today, September 15, shortly before 9 in the morning (Spanish time). The Ethereum Foundation member shared a tweet with the community of the exact moment it was completed The Mergeconsidered by some to be one of the most important events in recent cryptocurrency history.

However, the cryptocurrency has received this milestone with declines. At this time Ethereum it falls more than 2% to $1,605,150.

For his part, the Bitcoin It falls 0.26% to $20,187.5.

The Fusion: advantages

Thanks to the upgrade, Ethereum’s power usage will be reduced by more than 99% and transaction speeds are expected to increase by 12%, while the cost of sending a transaction over the Ethereum network will decrease by a similar margin. .

After the Ethereum Fusion, the blockchain You won’t need miners or users with powerful computers to solve tricky math puzzles to secure the network and create new coins. Rather, the miners will be replaced by stakers of ETH that will perform the validation of the network. However, there are options stake with Ethereum for all investors, regardless of their funds.

Despite of boom that generates The Merge in the transition from PoW to PoS, many doubts remain about the possibility of an extreme centralization of the network.

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