Ethereum Merge on September 15, 2022 marked a major change in the way the world's second-largest cryptocurrency operates.
It switched from the type of proof-of-work crypto mining mechanism pioneered by Bitcoin to a new proof- of-stake system. The switch to proof of stake eliminates the mining mechanism and instead allows users to verify transactions by simply holding a sufficient amount of ETH. The result is an immensely more energy-efficient cryptocurrency.
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