With the transition of Ethereum to the «green» blockchain, miners have lost the ability to mine cryptocurrency

The transition to the PoS of the world’s second largest cryptocurrency Ethereum has been successful, as co-founder Vitalik Buterin announced on his Twitter page. From now on, blockchain miners have lost the ability to mine ETH.

And we finalized!

Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.

— vitalik. eth (@VitalikButerin) September 15, 2022

The Merge took place at 9:45 a.m. (Kyiv time), and according to the developers, no difficulties were recorded during the merger. During the upgrade, the main Ethereum network connected to the Beacon Chain, fully switching the cryptocurrency to the Proof-of-Stake consensus algorithm, a faster, more energy-efficient and safer way to scale projects. The Merge will reduce energy consumption by 99% and, according to Buterin, will open up new opportunities for developers.

Regarding ethereum mining, the complexity and hashrate have dropped to zero, and miners cannot mine ETH from now on. As for the potential PoW fork, a day after the update, an extensive network will be launched that will work on the Proof-of-Work algorithm.

Users from all over the world could watch the update live on Ethereum. Currently, the developers are talking live about the future prospects for Ethereum.

The No Worries editorial team congratulates the Ethereum team on the successful update!