The Ethereum Merge has officially completed with the full transition of the network to proof-of-stake.
At 06:42:42 UTC at block 15537393, the long-awaited Merge saw the merging of the Ethereum mainnet execution layer and the Beacon Chain’s consensus layer at the Terminal, meaning the network will no longer rely on a proof-of-work consensus mechanism.
Ethereum price gets a slight pump following the Merge in hourly metrics, currently trading at around $1,635, according to data.
The Ethereum Foundation said the Merge will make the Ethereum network about 99.95% more energy efficient and will set the stage for future scaling solutions, including sharding.
Businesses that issue Ethereum-based exchange-traded products have been busy making their own adjustments with the Merge. With the Merge complete, the “Surge,” “Verge,” “Purge” and “Splurge” are the final stages left on the Ethereum technical roadmap.
The Surge will increase scalability for rollups through sharding, the Verge will achieve statelessness through Verkle trees, the Purge will eliminate historical data and technical debt, and the Splurge will involve a number of small miscellaneous upgrades.
