The Merge
Ethereum’s transition from proof-of-work to proof-of-stake consensus, completed on September 15, 2022.
What is The Merge?
The Merge was a major upgrade to Ethereum, finalized on September 15, 2022, marking the shift from energy-intensive proof-of-work (PoW) to proof-of-stake (PoS) consensus. It integrated Ethereum’s original execution layer with the Beacon Chain, a PoS-based consensus layer introduced in December 2020. The Merge reduced Ethereum’s energy consumption by ~99.95%, improved scalability potential, and set the stage for future upgrades like sharding. It did not directly lower transaction fees but enabled mechanisms like EIP-1559 to optimize fee dynamics.
Related Terms
Geth
An open-source Ethereum client software, written in Go, for running nodes, executing transactions, and interacting with the Ethereum blockchain.
Impermanent Loss Amplification
The heightened risk of value loss for liquidity providers when using concentrated positions, exacerbated by price movements outside specified ranges.
Solana Token Program
A core Solana onchain program with the program ID `TokenkegQfeZyiNwAJbNbGKPFXCWuBvf9Ss623VQ5DA`, enabling the creation, transfer, minting, and freezing of fungible and non-fungible digital assets.
Memecoin
A digital asset inspired by internet memes or viral trends, driven by community hype rather than utility, and known for extreme price volatility.
Payment Rails
Infrastructure for processing and settling digital asset transactions.
Mainnet
The primary, public blockchain network where real-world transactions and digital assets are processed.