Because of the Ethereum Merge, the network has switched over to proof-of-stake (PoS). The network will no longer use a proof-of-work method to reach a decision.
At block 15537393 on September 15, at 6:42:42 UTC, the consensus layer of the Beacon Chain and the execution layer of the Ethereum Mainnet were merged.
The Ethereum Foundation says that the Merge would make the Ethereum network 99.95% more efficient at using energy and pave the way for future scaling options like sharding.
Chris Kline, CRO and co-founder of Bitcoin IRA, told that staking solutions are meant to get more people to join the network.
He also said that ETH speed and gas prices caused network congestion and a bad experience for some people during times of high usage.
This upgrade will make it easier for people to use the new technology, which is appealing because it is based on what most people want.
By adding more staking nodes, more consensus is reached and developers can use the network more efficiently.
Consensus helps create decentralization and gives everyone a say in how the network is run. This makes it easier for people who want to contribute to do so "Kline says.
Even though The Merge might not change most business use cases that are already in place, it will change a lot about how businesses see Ethereum.
Switching to proof-of-stake makes Ethereum more secure and opens the door to improvements that could be very important in the future. It also saves energy.