Happy Merge!

The era of Ethereum mining has come to an end.

The upgrade, known as the "Merge" marks a radical change to how transactions on the Ethereum blockchain occur and ether tokens are created.

The second largest blockchain in the world has moved from Proof-of-Work to Proof-of-Stake. This means that now only validators who have blocked part of their coins in staking will be able to mine new coins.

The Ethereum merge has been planned since 2017, but has been repeatedly delayed. The Ethereum Foundation estimates that switching to PoS consensus will reduce the electricity consumption by 99%.

And we finalized! Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.

Vitalik Buterin tweeted.