The ''Merge'' is the much-awaited upgrade to the Ethereum blockchain that was finally completed on September 15, making it a "significant breakthrough" for the Ethereum ecosystem. It''s basically a transition to a more energy-efficient proof-of-work (POW) mining model, which has reduced Ethereum''s power consumption by 99.95 percent.
Developers who helped with this Merge upgrade believe that this move will make the Ethereum network, which is most commercialized and handles billions of dollars in transactions and holdings, more flexible and secure.
In a Twitter post, Buterin wrote that she was fine.
We finished! We have a great weekend! This is a huge milestone for the Ethereum system. Everyone who helped make the merge happen should feel very proud today.
Changpeng Zhao, Binance''s CEO, was among several others from the blockchain community to support Ethereum''s Merge upgrade.
Merge has been successful. The POS has been activated. We all have a good day.
THE #ETHEREUM MERGE WAS A COURS!
On the merger, the Ethereum community gets a truly fantastic technological feat!
The process of re-coding Ethereum into the POS model has been long and has been hampered by several technical hurdles, which have resulted in several delays in the Merge release.
Projects and blockchain companies who depend on Ethereum have now to choose if their operations would be funded solely on the Merge upgrade or manage this efficient version with the previous energy-intensive one.
The issuer of USD Coin, OpenSea, Tether, and Circle Pay, have already pledged to only rely on Ethereum''s Merge version in the near future.
In a recent update, developers of the blockchain said the bug bounty payments for Ethereum could now reach $1 million (roughly Rs. 8 crore) and are encouraged to keep an eye on potential dangers.
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