The merge is expected to happen in September
, the founder of cryptocurrency giant Digital Currency Group, has taken to Twitter to reveal that he’s “genuinely excited” about Ethereum’s much-anticipated upgrade.
The second-largest blockchain will be able to drastically reduce its energy consumption. If the upgrade ends up being a success, Ethereum will require 99% less electricity by adopting the proof-of-stake consensus algorithm and ditching proof-of-work. Given that Ethereum remains at the center of the decentralized finance ecosystem, the transition will likely quell the concerns of climate-conscious investors. The Ethereum price experienced a sharp rally last week.
After the merge, which is expected to take place in September, Ethereum will be only partially complete. In the post-merge era, Ethereum will undergo a series of further upgrades . As explained by Ethereum co-founder Vitalik Buterin, these deep changes will be happening in parallel. It remains to be seen whether the much-anticipated upgrade will manage to boost demand for the token.
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