Welcome to a new area of Ethereum.⁠ ⁠ ⁠A historic moment for Blockchain, Ethereum moved from Proof of Work to Proof of Stake. ⁠ ⁠ Why? Ethereum should now consume 99.9% or so less energy and will be more secure and escalable. ⁠ ⁠ To commemorate this historic occasion, you can claim a free NFT on https://consensys.net/merge/⁠ ⁠ Buy what is PoS or PoW? Let's look at a quick recap from our previous ETH post: ⁠ ⁠ Proof of Work is a system in which a large group of crypto miners compete to solve cryptographic equations to validate transactions on a blockchain. 1000s of miners churn high-powered computing rigs trying to be the first one to crack the code. The winner gets the reward for verifying the transaction - they get some ETH. This is how every ETH transaction happens. It consumes a tremendous amount of energy.⁣⁠ ⁣⁠ On the other hand, Proof of Stake is when one person or “validator” is chosen at random to validate the transaction. Instead of 1000s if not millions of miners expending a ton of energy competing to solve the code, a single person is just chosen to do it. Proof of Stake consumes roughly ~99% less energy than Proof of Work.⁣⁠ ⁠ ➡️ Which are your thoughts are the merge?⁠ ⁠ #Koll3ctiff #Kollectiff #metaverse #web3 #nfts #nftsstories #nftart #nftcommunity #nftcollector