Ethereum, the second largest blockchain network, has attempted the software upgrade called Merge to make it a mature system — replacing the power-hungry computers to order transactions on the network. The system will be more energy efficient, and will reduce carbon consumption by an estimated 99 per cent. The set up will use piles of the networks native token — Ether, placed in special, so-called staking wallets.

It will be scaled up. They have to fix privacy. The metamorphosis represents the difference between an early Ethereum and an aspired Ethereum. Merge changed the character of Ether, making it resemble yield-bearing securities. Staked Ether will generate a return expected to be around 5.2 per cent after the Merge. It will make the coin more attractive to investors. There are going to be glitches for some time to come.