tldr; Ethereum has completed its transition from the Proof-of-work consensus mechanism to the PoS consensus mechanism. Vitalik Buterin, one of the co-founders of the project, tweeted, “Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.” The transition to PoS is expected to reduce energy consumption by 99.95%.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.