The world’s second-largest cryptocurrency has undergone a significant transformation that will change its technology to cut carbon emissions by more than 99.9 per cent, according to its platform Ethereum.
The transition known as "the Merge" has been finalised, Ethereum founder Vitalik Buterin confirmed on Thursday.
"And we finalized!... Happy merge all. This is a big moment for the Ethereum ecosystem," he said in a tweet.
It means its blockchain technology has been upgraded from the intensive energy-consuming model used by its rival Bitcoin.
While anticipation around the move has seen the price of Ethereum’s token, Ether (ETH), double in the last two months, not everyone is looking forward to the change.
Euronews Next looks at what is changing and how the transformation may affect the crypto market.
What is the Ethereum 'Merge' and Proof of Stake?
The first part of the Merge upgrade began on September 6 with the Bellatrix upgrade, which marked a so-called "hard fork" that will...
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