Ethereum Blockchain Migrates to Proof of Stake After Completion of The Merge – Featured Bitcoin News

As anticipated, the Ethereum blockchain Merge occurred on September 15 around block height 15537391 at 2:42:42 a.m. ET. eth ethmerge hardfork

The Ethereum blockchain officially migrated to the proof-of-stake consensus mechanism as the anticipated “Merge” finally occurred around block height 15537391 on September 15. The protocol’s co-founder Vitalik Buterin has described The Merge as “a big moment for the Ethereum ecosystem.”After months of waiting and tension, The Merge — the Ethereum blockchain’s much-anticipated migration to a proof-of-stake consensus mechanism — has happened.

In terms of the network’s hashrate, data shows that it dropped from over 807 TH/s 24 hours earlier to just under 750 TH/s minutes after the event. Compared with the week before the migration, the hash rate appeared not to haveWhile Ethereum ceased to be a proof-of-work blockchain immediately after The Merge, not all miners went along with the decision to migrate. As previously reported by Bitcoin.

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