Ethereum (ETH) Is Now a Proof-of-Stake Network After Merge Goes Off Without a Hitch

Ethereum has finally completed its historic merge event and has successfully migrated from Proof-of-Work (PoW) into a Proof-of-Stake (PoS) consensus mechanism.

ethereum merge

After years of waiting, Ethereum has finally completed its historic merge event and has successfully migrated from Proof of Work (PoW) into a Proof-of-Stake (PoS) consensus mechanism.

The Ethereum Merge Is Done

At 9:45 AM EST, Ethereum became a Proof-of-Stake network shortly after reaching the “terminal total difficulty” of 58750000000000000000000. Ethereum’s transition to PoS went off without a hitch, quelling fears in the crypto community.


In the first two epochs (12 minutes and 48 seconds) that it took the Ethereum network to reach finality, the network missed just one block. This was a significant feat, considering the level of difficulty of the merge.

Celebrating the success of the merge, Ethereum Foundation developer, Terence.eth wrote;

As Ethereum transitioned, major crypto exchanges including Binance, FTX, Coinbase, and Kraken temporarily paused trading for Ethereum (ETH) and Ethereum-related tokens as a precautionary measure.


Since the announcement of the successful merge, the price of ETH managed to break out of its bearish cycle, and now trades above $1,600, albeit not up to the expectations from bullish investors.

ETH graph coinmarketcap ethereum crypto

The 24-hour price chart for Ethereum (ETH). Source: CoinMarketCap

What Does PoS Bring to Ethereum?

The merge has changed how ETH will be created and how transactions on the Ethereum network are validated. Validation and new ETH will now be created by stakers who pledge their ETH to protect the network.

If miners create new blocks on Ethereum’s PoS, the upgraded execution clients would reject them as invalid. By letting go of miners and their energy-intensive equipment, Ethereum should now consume 99.9% or so less energy.

The Merge retires Ethereum’s Proof-of-Work system, which it has operated on with miners since its launch in 2015. In addition, the Ethereum Foundation says PoS should make the Ethereum network more secure and scalable.

On the Flipside

  • Ethereum’s successful merge means miners who want to remain on PoW have begun preparation to hard fork the network within the next 24 hours.

Why You Should Care

The seamless execution of the Ethereum merge is a historic milestone that won’t just affect Ethereum, but the entire crypto industry.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia