Ethereum Merge: World's second biggest cryptocurrency gets greener

Ethereum Merge: World's second biggest cryptocurrency gets greener

The Ethereum (ETH) Merge is a massive upgrade to allow the blockchain to run efficiently.

The long-awaited revamp reduces ethereum's energy consumption by nearly 99.95%.

Ethereum Foundation is a nonprofit organization dedicated to supporting the cryptocurrency and its related technologies.

Since its launch in 2014, Ethereum has emerged as a leading blockchain platform for decentralized applications.

One of the changes includes a transition to a new mining algorithm.

Proof of Work is being replaced with a new algorithm called Proof of Stake as part of its efforts to decentralize mining.

Ethereum has reached a market value of $500 billion in 2022.

With a personal fortune of $1.4 billion, Ethereum's creator Vitalik Buterin is among the youngest known crypto billionaires.