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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%.
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%.