tldr; Ethereum has accomplished its transition from the Proof-of-work consensus mechanism to the PoS consensus mechanism. Vitalik Buterin, one of many co-founders of the venture, tweeted, “Joyful merge all. This can be a massive second for the Ethereum ecosystem. Everybody who helped make the merge occur ought to really feel very proud right this moment.” The transition to PoS is anticipated to scale back vitality consumption by 99.95%.
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