Ethereum Merge: The dawn of green blockchain is here

economictimes.indiatimes.com:

Ethereum 2.0 following the iconic ‘Merge’. The Merge is an upgrade to the Ethereum blockchain, which powers innovations in the crypto ecosystem. The Ethereum Merge has shifted the Ethereum security mechanism from proof-of-work (PoW) to proof-of-stake (PoS), which in turn has greatly impacted the crypto economics of the blockchain and has many significant implications for the crypto market. Ethereum’s transition from PoW to PoS is here to prove that a decentralized and permissionless network can operate in an energy-efficient manner. The merge will likely cause a renewed interest in Web3 projects aiming to build on top of the Ethereum network. Moreover, the merge will improve nearly all metrics of the Ethereum blockchain, making way for future innovation of applications and experimentation.Some of the longer-term advantages of the «Merge» include:

The Ethereum Merge is without a doubt the most significant update within the crypto and blockchain ecosystem. According to the Ethereum Foundation, ether uses around 112 Terawatt-hours of energy annually. That is approximately the same amount of energy used for the entire Netherlands. The merge, which eliminates the energy-intensive proof-of-work system, will cut emissions by an estimated 99.95%. The update should not only make Ethereum greener but also lessen the stigma associated with cryptocurrencies among many individuals who are concerned about the environment.

A single Ethereum block takes around 13-14 seconds for mining. However, with the implementation of the proof-of-stake (PoS) mechanism, the validation time for a block will only take 12 seconds. Following the Merge, The Ethereum network will break up the