Ethereum Proof of Stake Transition

The September 15, 2022 upgrade known as 'The Merge' that transitioned Ethereum from a proof-of-work to a proof-of-stake consensus mechanism. This monumental technical achievement reduced Ethereum's energy consumption by over 99%, introduced ETH staking as a yield-generating activity, and laid the groundwork for future scalability improvements. The successful execution of this long-anticipated upgrade represented one of the most significant technical achievements in cryptocurrency history.

Categories: crypto history, blockchain technology, mining staking