Ethereum completed the much awaited software upgrade – Merge on Wednesday. This marks Ethereum’s crossover to a much better energy-efficient infrastructure. This development comes in after years of delays, discussions and experimentation.
Ehtereum is one of the most crucial platform in the world of cryptocurrency. They form the base for an amalgamation of applications, which are responsible for managing more than $50 billion in customer funds.
Through this new milestone, the company expects to reduce their energy consumption levels. Additionally they are also determined to form the stage for further improvements in the future, which will eventually make the platform easier and cheaper to be used.
Engineers and researchers, who worked effortlessly towards the development of this software, took to YouTube and marked the milestone in a livestream celebration. This also comes off as a happy moment for crypto, as the market saw a devastating crash of about $1 trillion in the industry. This also led some prominent crypto companies into bankruptcy.
Danny Ryan, a researcher at Ethereum stated while celebrating with a colleague that it was going as well as it could go so far.
However, crypto users were anticipating possible glitches in the development. Any flaw in Merge was meant to harm a broad crypto industry. Coinbase, announced in the month of August that they planned on pausing some Ethereum deposits and withdrawals during the Merge, as they did not want any complications.
