What consensus proof does Ethereum use?

[onusplatform]

The Ethereum blockchain previously operated on a Proof-of-Work (PoW) consensus mechanism, which required significant computational efforts from all decentralized nodes in the blockchain.
Since September 2022, Ethereum has successfully transitioned to a Proof-of-Stake (PoS) model, an important upgrade known as "The Merge", which has been planned for several years. This transition fundamentally changed Ethereum's operations, eliminating the need to mine new blocks as the network is now secured using staked ETH and validators. The Ethereum Foundation asserts that switching from PoW to PoS has cut Ethereum's energy usage by up to 99.95%.

 

[Suba]

The merge is a combination of the Ethereum blockchain with a parallel network, thus forming a PoS consensus mechanism system. The Ethereum blockchain is also a pioneer of smart contracts, as a platform for various decentralized apps and Web3. Some examples of well-known DApps are Sushiswap, Uniswap, Balancer etc. Examples include crypto lending and borrowing apps such as AAVE, Maker and Compound. Currently the Ethereum network is also widely used to build tokens, be it ERC20, ERC271, NFT etc. However, one thing that investors don't like about Ethereum is that gas fees are still high.