What is the Ethereum merge?

The Ethereum Merge is the joining of Ethereum’s proof-of-stake (PoS) Beacon Chain with the Ethereum Mainnet to transition the Ethereum blockchain off the legacy proof-of-work (PoW) system. With the completion of the merge on Sept. 15, 2022, Ethereum made the switch to a PoS model. That gave birth to Ethereum 2.0, a new version of Ethereum.

What happened to ETH after 'the merge'?

On Sept. 15, a few minutes before 3 a.m. Eastern time, Ethereum switched from using energy-intensive technology to a more sustainable system in a major update called "the merge." In the hours following the merge, the price of Ether, or ETH — the platform's native cryptocurrency — held relatively steady.

What is a'merge' in Ethereum?

The Merge was the joining of the original execution layer of Ethereum (the Mainnet that has existed since genesis) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminated the need for energy-intensive mining and instead enabled the network to be secured using staked ETH.

What is Ethereum 2 & eth2?

Ethereum 2.0, also known as Eth2, is an upgrade to the Ethereum blockchain. It is designed to allow Ethereum’s network process more transactions at once and avoid bottlenecks. What Is the Beacon Chain? The Beacon Chain is the Ethereum proof-of-stake (PoS) blockchain network that was launched in 2020.