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Other cryptocurrencies, including the biggest, Bitcoin, will remain as energy-intensive as before. Ethereum's co-founder Vitalik Buterin says The Merge has been part of the plan for Ethereum since it was launched in but has had to be postponed many times due to its technical complexity.

The task has been compared with rebuilding the foundations of a skyscraper while it remains standing. The Ethereum blockchain supports not only the Ethereum currency but also hundreds of millions of dollars' worth of other coins and crypto products like NFTs. If something goes wrong it could jeopardise arguably the most important ecosystem in cryptocurrency, affecting large and small investors around the world. If all goes well, consumers should not notice any change.

Anyone who searches for The Merge on Google sees a countdown tool, which predicts it will be completed in the early hours of Thursday GMT. What is The Merge? The Ethereum blockchain is a giant, constantly updating database that logs every transaction that takes place. Up to now it has been updated, verified and maintained by a global network of volunteers with powerful computers, who are rewarded for this work with new coins - a process known as cryptomining.

Image caption, The Merge is forcing workers at Prima Technologies to replace their Ethereum equipment to start mining for Bitcoin This system is called Proof of Work and is used by many of the most popular blockchains including Bitcoin, Ethereum, Dogecoin and Litecoin.

The Merge will see the Ethereum Proof of Work blockchain merge with a carbon copy called the Beacon Chain which has been running on a new system called Proof of Stake since Proof of Stake vastly reduces the number of computers needed to maintain the blockchain, and cryptominers are replaced with a smaller number of "validators", who stake their own stash of Ethereum coins against their work.

They lose it automatically if they make a mistake. As well as reducing the energy burden of Ethereum, Proof of Stake reduces the amount of coins given out as a reward and organisers say it will decrease the overall number of coins in existence. More environmentally friendly Not only does Proof of Stake reduce the number of computers needed, it also reduces the computing power needed.

Everyday laptops and desktops can be used instead of expensive computers with powerful GPUs graphics processing units. The decentralised nature of mining makes it hard to get an accurate picture of exactly how much energy is being used globally, but the Ethereum Foundation says that Ethereum was using as much electricity as The Netherlands in June. At press time, it is breaking the upper border of the ascending triangle for the third time this month.

The breakthrough is an important step toward the trend reversal on ADA. Ads Cardano also shows that it is not only rallying against Bitcoin but is also showing a better-than-average performance against the United States Dollar despite its strengthening against a bracket of foreign currencies. Regulators create toxic environment around Ether Another important factor is regular lack of clarity around Ethereum , which became extremely similar to a security, which is why regulations may affect its investors and cause numerous problems for projects that are willing to start working on the network.

Unless building on the network becomes popular again, both the profitability and revenue of Ethereum stays at an extremely low level, which is why the selling pressure on it increased exponentially in the last few days despite the Merge update.

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