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Can ‘the Merge’ Save Crypto?


Crypto could use a bit of good news these days. And on Wednesday, it got some.Ethereum, the most popular crypto platform, appears to have successfully upgraded its software architecture from a type of blockchain known as “proof of work,” which it has run since its inception in 2015, to a type of blockchain known as “proof of stake.”This upgrade, which came to be called, simply, “the merge,” is already being heralded as a watershed moment in the history of crypto.Early Thursday morning, as the first proof-of-stake transactions were verified, dozens of Ethereum developers gathered on a celebratory Zoom call hosted by the Ethereum Foundation.“This is the first step in Ethereum’s big journey towards being a very mature system,” Vitalik Buterin, Ethereum’s founder, told the group. “To me, the merge symbolizes the difference between early stage Ethereum …

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