Ethereum has officially switched to PoS

As many of you probably know, Ethereum has been transitioning from PoW (Proof of Work) to PoS (Proof of Stake) consensus for an incredible eight years. However, after a huge amount of work and delays, Ethereum has officially switched to PoS. This process called “The Merge” took place on September 15, 2022, and the interesting thing is that the date was not fixed in advance, but rather just an estimate. This highly anticipated and welcomed process, according to the official website of Ethereum, The Merge, eliminated electricity consumption by up to 99 95%. As you know, Ethereum is the second largest cryptocurrency after Bitcoin, so this is a big step forward.

Of course, in addition to the environmental impact, this news will also have an economic impact, which has gained a lot of attention based on the resources consumed by the Ethereum network. Among the main changes, in addition to the fact that Ethereum is much more ecological, is the verification of transactions, which now does not require powerful hardware, but enough owned money. However, the main motivation was clearly ecology, but many continue to ask whether the aforementioned transition will have a real impact on global consumption.