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The Ethereum Merge seeks to join the existing execution layer of the Ethereum mainnet with its new proof-of-stake consensus layer, the Beacon Chain, will eliminate the need for energy-intensive mining. It is expected to land within the third or final quarter of 2022. While many investors and traders alike have bought Ether in anticipation of the Merge upgrade, some appear to have done so under misconceptions that the network’s capacity will surge once the upgrade is live.
Ethereum is now anticipated to complete the Merge on or around September 15, 2022. Six years in the making, this milestone will reduce energy consumption for the Ethereum network by a projected 99.95% compared to Proof of Work (mining).