Ethereum has completed a long-awaited upgrade to its system in a move expected to slash its energy costs and intended to prepare the ground for more use of crypto technology in mainstream finance.
The upgrade, known in the industry as the “Merge”, which changes how new transactions are verified on the Ethereum blockchain, completed early Thursday, co-founder Vitalik Buterin said.
Ethereum powers large swaths of the Web3 world, which includes applications like digital collectibles and decentralised finance systems.
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