BREAKING: Crypto Historic Day As Proof Of Stake Consolidation Happens
The highly anticipated Ethereums switched to a Proof of Stake (PoS) consensus algorithm, dubbed Merge, at 6:42:42 AM UTC on September 15. This step is an essential part of an overall multi-year transition of the Ethereum blockchain. Eli Ben Sassoon, co-founder and president of StarkWare, told Cointelegraph about the merger that it is starting a chain reaction of the changes. The merger is said to help the Ethereum blockchain reduce power consumption by around 99%.
During the viewing party Before networking moved from Proof of Work (PoW) to PoS, Ethereum co-founder Vitalik Buterin said: [It] It has obviously been a dream for the Ethereum ecosystem almost from the start. We started proof-of-stake research with this blog post on Slosher in January 2014.
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