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Ethereum Merge: What will the radical upgrade mean for the cryptocurrency?

The electricity consumption of the Ethereum cryptocurrency rivals that of some countries, but a controversial update to its operation will reduce this percentage by 99%.

Technology


September 13, 2022

Ethereum is about to completely change how it works to reduce its carbon emissions

askarim/Shutterstock

This week, Ethereum, the world’s second largest cryptocurrency, will launch the biggest upgrade ever seen in a digital currency, transforming the way it operates and reducing its power demands by up to 99 percent. Why is “the Fusion” happening and what will be the effect?

What is fusion?

Like other cryptocurrencies, such as bitcoin, Ethereum relies on proof-of-work (POW) for security, which means that computers perform a large number of calculations to “mine” new…

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