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The Ethereum 'Merge' has finally happened as scheduled on September 15, 2022, according to the Google countdown. The Ethereum network has finally got the much-awaited Merge with the proof-of-stake network, and has finally shifted to a much faster and more energy-efficient mechanism.

Ethereum, the most popular altcoin and second-largest cryptocurrency by volume, completed its long-awaited merge Thursday. After years of being the number-one smart contract blockchain, the network upgrade will transition ethereum to a less energy-intensive technology.

"A successful merge will likely boost the price of all crypto assets," especially ether and other projects associated with it, Tapscott said in August.

No action is needed. If you owned ETH before the merge, you don't need to do anything, according to the network's website. Scams could be on the rise, so watch out. Ethereum warns against scammers who suggest you need to upgrade or transfer to a new token, like ETH2. No such token exists.

Ethereum 2.0 The first stage of Ethereum's two-stage merge, codenamed Bellatrix, happened on 6 September 2022. Now that both stages are complete, the merge itself has also been finalised. Post-merge, the Ethereum 2.0 network is predicted to consume 99.5% less energy than it did while it used Proof of Work.

On Sept. 15, a few minutes before 3 a.m. Eastern time, Ethereum switched from using energy-intensive technology to a more sustainable system in a major update called "the merge." In the hours following the merge, the price of Ether, or ETH the platform's native cryptocurrency held relatively steady.

Ethereum, the most popular altcoin and second-largest cryptocurrency by volume, completed its long-awaited merge Thursday. After years of being the number-one smart contract blockchain, the network upgrade will transition ethereum to a less energy-intensive technology.