The Merge 2022 event
Overview
Ethereum's consensus mechanism shifted from proof-of-work to proof-of-stake on September 15, 2022 at 06:43 UTC, an event known as The Merge. The Beacon Chain, which went live in December 2020, was merged with the existing Ethereum mainnet; the former became the consensus layer while the latter became the execution layer, ending mining operations. Network security now depends on validators staking 32 ETH each instead of using computational power. According to the Ethereum Foundation, this change reduced the network's energy consumption by approximately 99.95%. The upgrade, the result of extensive development work, did not alter gas fees or transaction throughput.
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Frequently asked questions
What is The Merge 2022?
The Merge 2022 is an event tracked in The Counterparty knowledge graph.
What type of entity is The Merge 2022?
The Merge 2022 is classified as an event (event) in The Counterparty knowledge graph.
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