Why the Ethereum Update Is Delayed (Yet Again)
Now known as "the Merge," the Ethereum (CRYPTO: ETH) upgrade will transition the blockchain from a proof-of-work consensus mechanism to the more efficient and less energy-intensive proof-of-stake method.
As the second-most-valuable cryptocurrency by market cap, Ethereum has become one of the most widely used blockchains in all of crypto. Its smart contracts are integral to building things such as decentralized exchanges, popular ERC-20 tokens like Chainlink or Shiba Inu, lending and borrowing platforms, and much more.
The Ethereum blockchain has seen explosive growth in the last few years due to its extensive use in the DeFi economy. To keep supporting a growing number of users, this upgrade is badly needed.
Source Fool.com
