After months of speculation, the long-awaited Ethereum (ETH) merge finally took place on September 15, 2022. The merge saw the popular blockchain network move from its hardware-based PoW (proof-of-work) model to the more environmental-friendly PoS (proof-of-stake) model.
The merger will see the Ethereum blockchain reduce its carbon footprint by 99.9%, resulting in faster transactions and lower fees. So, what are the implications of this merge, and how will traders be affected?
Understanding the Ethereum merge
Like most cryptocurrencies, Ethereum follows a decentralized governance system. Any decisions about the blockchain protocol now are up to the community. In early 2020, the community decided to change the blockchain’s PoW mechanism to PoS to lower energy usage and drive faster transactions.
Following the decision, the ‘Beacon Chain’ – a testing ground for the PoS mechanism – was launched on December 1, 2020. The Beacon Chain ran in conjunction with the main PoW-based Ethereum...
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