And we finalized!

Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.

— vitalik.eth (@VitalikButerin) September 15, 2022

Ethereum cryptocurrency completes move to cut CO2 output by 99%

The Merge was executed on September 15, 2022. This completed Ethereum’s transition to proof-of-stake consensus, officially deprecating proof-of-work and reducing energy consumption by ~99.95%.

The software upgrade, known as “the merge”, will change how transactions are managed on the ethereum blockchain, a public and decentralised ledger that underpins the cryptocurrency and generates ether tokens, the world’s most popular cryptocurrency after bitcoin.

Bitcoin could never achieve this, as Bitcoin is a purely speculative asset and its mining network would never agree to stop this revenue stream.

More details here:
https://ethereum.org/en/upgrades/merge