Ethereum merge complete

To the delight of cryptocurrency enthusiasts everywhere, Ethereum (CRYPTO: ETH) has completed its switch to a proof-of-stake network.

The Merge to PoS from the Ethereum blockchain was successfully completed at 2:50 a.m. EDT on Thursday.

The long-awaited happening finally puts a stop to Ethereum mining and represents the largest change in the blockchain sector.

At the point when the necessary threshold for Total Terminal Difficulty was met, the Merge occurred at block height 15537393.

By switching to Proof-of-Stake, the network will be far more efficient at using energy than it was when it relied on proof-of-work. 

According to statistics provided by Benzinga Pro, the price of ETH has decreased by 0.67% in the previous 24 hours, to $1,607 at the time of this writing.

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