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Ethereum completes Merge, Do Kwon faces arrest warrant and Bitcoin dives after rally: Hodler’s Digest, Sept. 11-17

Cryptocurrency Sep 18, 2022 03:00PM ET
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Breaking: Historic day for crypto as Ethereum Merge to proof-of-stake occurs

Ethereums highly anticipated conversion to a proof-of-stake (PoS) consensus algorithm, dubbed the Merge, took place at 6:42:42 am UTC on Sept. 15. The move is a key part of an overarching multi-year transition for the Ethereum blockchain. It starts a chain reaction of changes, Eli Ben-Sasson, co-founder and president of StarkWare, told Cointelegraph regarding the Merge. The Merge will reportedly help the Ethereum blockchain reduce its energy consumption by around 99%.

During a viewing party before the networks shift from proof-of-work (PoW) to PoS, Ethereum co-founder Vitalik Buterin said: [It] has obviously been a dream for the Ethereum ecosystem since pretty much the beginning. We started the proof-of-stake research with that blog post on Slosher back in January 2014.

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Ethereum completes Merge, Do Kwon faces arrest warrant and Bitcoin dives after rally: Hodler’s Digest, Sept. 11-17
 

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Usman Muhammad Sep 18, 2022 3:50PM ET
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