By The so-called merge of Ethereum has completed, setting the stage for the cryptocurrency to be less harmful to the environment.
Vitalik Buterin, one of the co-founders of Ethereum, said the merge had finalized.
The move will transition the Ethereum blockchain from proof-of-work to proof-of-stake, which is less energy intensive. The Ethereum Foundation estimates energy consumption will drop by 99.95%. Currently, its consumption is equivalent to that of Chile.
Read: Five things to know about the Ethereum Merge
Ethereum
ETHUSD,
+0.08%
rose 2% to $1,634.3 but has dropped 56% year-to-date.
Bitcoin
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+0.73%
rose 1% to $20,203, and also has dropped 56% this year.
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