The Shift from PoW to PoS: Understanding The Ethereum Merge
You would have heard about the biggest event that happened in the blockchain world on September 15, 2022. Do you have any idea what it is? Yeah, you thought it right! It’s Ethereum Merge.
This merge is a transition from the traditional Proof-Of-Work consensus method to a more energy-efficient Proof-of-Stake algorithm. With this update, Ethereum's Beacon Chain, the newest proof-of-stake consensus layer, will merge with the Mainnet, the current execution layer.