Thursday, May 29, 2025

Latest

Ethereum Merge: The Network’s Revolutionary Upgrade Will Cut Mining Energy Usage by 99.9%

The highly-anticipated Ethereum Merge is finally going live, and is expected to revolutionize the blockchain industry by substantially reducing costs and energy usage.

The ethereum blockchain’s system-wide upgrade officially went live on Thursday, marking one of the most significant events in the crypto space. Dubbed the “Merge,” it will transition the ethereum network from a proof-of-work (PoW) model to a proof-of-stake (PoS) model by merging the blockchain’s PoS Beacon Chain with the existing Ethereum Mainnet. Now, blockchain miners will no longer have to validate coins by solving complex mathematical problems on advanced computers, but rather validators will leverage their own ether tokens (Ethereum’s native coin) to verify the transaction, ultimately securing the network.

The Merge is expected to cut back Ethereum’s energy consumption by 99.9%, solving a major criticism of the cryptocurrency industry. Moreover, now that validators have to put up their ether tokens and take them out of circulation, the overall supply will significantly decline, making the coins more scarce. In addition, a previous supply reduction upgrade that went live August 2021 is permanently eliminating some of the tokens that were otherwise slated to go back into circulation.

The price of ether has surged over 30% over the past three months, surpassing bitcoin by a large margin, which has fallen nearly 10% during the same period. A recent note by the Bank of America suggests the reduction in the Ethereum’s energy usage will be the focal point of the Merge, even attracting interest from institutional investors that otherwise shy away from token purchases from blockchains that run on PoW mechanisms.

Information for this briefing was found via CNBC and Twitter. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Related News

Hive Blockchain, DeFi Technologies Complete Share Exchange

Hive Blockchain (TSXV: HIVE) has completed a previously announced share exchange agreement with that of...

Wednesday, April 21, 2021, 08:06:35 AM

Blast Crypto Game Hacked, Losing $62 Million to North Korean Developer

A crypto game operating on Ethereum’s layer 2, known as Munchables and hosted on the...

Wednesday, March 27, 2024, 12:17:00 PM

Digimax To Launch Trial Of AI Based Crypto Trading Tool In December

Digimax Global Solutions (CSE: DIGI) this morning announced that it will be offering a free...

Friday, November 6, 2020, 07:56:45 AM

Evolve Announces Multi-Crypto ETF Focusing On Bitcoin, Ether

The rise in demand for Ethereum and Bitcoin as a whole has evidently made the...

Monday, September 27, 2021, 08:58:44 AM

Crypto: Regulatory Risk Is Present In Any Asset Class – The Daily Dive feat Frank Holmes

Today on the Daily Dive, host Cassandra Leah sits down with someone whom is becoming...

Wednesday, May 26, 2021, 01:30:00 PM