Ethereum — What “Merge” achieves, what it doesn’t, and what is next.

Ethereum used to run on a Proof-of-Work (PoW). “The Merge” scrapped the PoW mechanism and merged Ethereum’s Execution Chain with a Proof-of-Stake (PoS) chain called Beacon.

With this migration, Ethereum’s energy consumption has fallen by more than 99.9%. Going by Mainstream media’s coverage of the Merge, one would think that reduction in energy…