The Merge
The Merge (September 2022) was Ethereum's switch from proof-of-work mining to proof-of-stake validation — the entire $200B+ network changing its security e
The Merge (September 2022) was Ethereum’s switch from proof-of-work mining to proof-of-stake validation — the entire $200B+ network changing its security engine mid-flight without downtime. Energy use dropped ~99.9% overnight.
Why it matters
The Merge proved blockchains can reinvent their foundations live — and it moved Ethereum’s security debate from “who burns power” to “who holds stake.” It didn’t lower fees (a common myth) and it concentrated new power in staking pools, which is exactly the capital-centralization question W3D now tracks on Ethereum. For learners, the Merge is the cleanest case study in how consensus choices reshape who holds power — proof-of-work miners out, proof-of-stake stakers in.