At 2:43am EST on September 15, 2022, the first Ethereum block was validated using Proof of Stake, signaling the success of the Ethereum Merge, one of the most anticipated events in.
The Merge shifted the Ethereum blockchain from a PoW consensus mechanism to a proof-of-stake PoS consensus mechanism, which has reduced the network’s energy usage by about 99.5%. Ethereum now facilitates a 7-day average of over one-million transactions per day.