Ethereum, the open-source blockchain protocol with smart contract functionality, has completed its long-awaited upgrade which aims to lower energy costs by 99% and pave the way for increased usage of crypto technology in conventional finance. The “Merge” modifies how new transactions on the Ethereum blockchain are validated- transitioning from energy-intensive proof-of-work to capital-intensive proof-of-stake. The Merge is just one part of a larger strategy devised by Ethereum developers to address its network capacity constraints, which, besides regulation, is considered the major technological roadblock to the widespread adoption of decentralized banking.
Ethereum ‘Merge’ concludes in key moment for crypto market
