‘Happy Merge All’: Vitalik Buterin Officially Confirms Arrival of Ethereum’s Upgrade

The Merge has slashed Ethereum blockchain’s power consumption by 99.95 percent.

Advertisement
Written by Radhika Parashar, Edited by Richa Sharma | Updated: 15 September 2022 14:50 IST
Highlights
  • The Merge upgrade makes Ethereum energy-efficient
  • The Merge has been in the works for over a year
  • The upgrade is being celebrated widely by the crypto community
‘Happy Merge All’: Vitalik Buterin Officially Confirms Arrival of Ethereum’s Upgrade

Binance CEO Changpeng Zhao was among several to celebrate the Merge upgrade

Photo Credit: Unsplash/ Shubham Dhage

The 'Merge' — the much-awaited upgrade to the Ethereum blockchain — finally completed on September 15, marking a historic milestone in the blockchain and crypto industries. Vitalik Buterin, the co-founder of Ethereum announced the launch of the Merge on Twitter, calling this a "big moment" for the Ethereum ecosystem. Essentially, now the Ethereum blockchain has transitioned to an energy-efficient ‘proof-of-stake (POS)' mining model from its previous, power intensive ‘proof-of-work (POW)' mining model. This upgrade has slashed Ethereum blockchain's power consumption by 99.95 percent.

Developers who worked on this Merge upgrade believe that this revamp will make the Ethereum network, which is most commercialised and handles billions of dollars in transactions and holdings, more scalable and secure.

“And we finalised!” wrote Buterin in his Twitter post.

Binance CEO Changpeng Zhao was among several others from the blockchain community to welcome Ethereum's Merge upgrade.

Advertisement

The process of re-coding Ethereum into the POS model has been a long one, filled with several technical roadblocks which led to several delays to the Merge launch.

Projects and blockchain firms reliant on Ethereum now have to choose if their operations would solely run on the Merge upgrade or manage this efficient version with the previous energy-intensive one.

Advertisement

OpenSea, Tether and Circle Pay — the issuer of USD Coin — have already pledged to only rely on the Merge version of Ethereum going forward.

Recently, a DappRadar report has alerted the crypto community to get their Ethereum-related affairs in order because the stablecoins and transactions backed on the Ethereum blockchain could encounter some snags.

Advertisement

Meanwhile, the bug bounty payouts for Ethereum can now go as high as $1 million (roughly Rs. 8 crore), developers of the blockchain said in a recent update, encouraging software developers to keep an eye out on potential risks around the newly launched upgrade.


Apple unveiled eight new products at its September ‘Far Out' event. Which ones will float — and which will sink? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
 

Also seeCryptocurrency Prices across Indian exchanges

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Advertisement

Related Stories

Popular Mobile Brands
  1. Nothing Headphone 1 Could Come With Spatial Audio and These Features
  2. Apple Developing 7 Head-Mounted XR Wearables, Says Ming-Chi Kuo
  1. Apple Vision Pro With M5 Chip to Launch in 2025, Smart Glasses Coming in 2027: Report
  2. Nothing Headphone 1 Specifications Leak Ahead of Launch; May Offer Up to 54 Hours of Battery Life
  3. Infinix Hot 60i Launched With MediaTek Helio G81 Ultimate SoC, 50-Megapixel Rear Camera
  4. OpenAI Said to Turn to Google's AI Chips to Power ChatGPT and Other Products
  5. Samsung Tipped to Unveil Tri-Fold Smartphone With Galaxy Z Fold 7, Z Flip 7; Launch Timeline Leaked
  6. iPhone 17 to Feature Slightly Larger Display Than iPhone 16, Tipster Claims
  7. Microsoft's Next-Gen AI Chip Production Reportedly Delayed to 2026
  8. Dead NASA Satellite Relay 2 May Have Caused Mysterious 2024 Radio Burst
  9. James Webb Telescope Captures First Direct Image of Saturn-Mass Exoplanet
  10. James Webb Telescope Detects Methanol and Ethanol Near Young Stars, Hinting at Life’s Origins
Gadgets 360 is available in
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2025. All rights reserved.