The last 12 months have been fatal to cryptocurrencies. 

Almost two-thirds of about 2 trillion crypto market has been wiped out.

Not only the crypto market but also various crypto funds and platforms have plunged into the water.

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Some giant Crypto lenders like Celsius, hedge fund Three Arrows Capital (3AC), and Voyager Digital filed for bankruptcy.

Crypto seize, resulting in massive job layoffs.

As defined by, the Merge combines Ethereum's existing execution layer with its new proof-of-stake consensus layer.

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The process eliminates energy-intensive mining.

Also, it secures the network using a staked ETH.

Ethereum mining now requires extremely powerful machines that use a lot of energy.

After Merge, owners of Ethereum will be able to stake their coins to validate transactions and energize the network.

With this update, Ethereum will become much more environmentally friendly by reducing energy consumption by up to 99.95%.

Ethereum is secured by validators who stake their coins rather than miners under proof-of-stake.