Despite bringing down the computational requirements by transitioning to a proof-of-stake (PoS) method of validation, neither the Gas fees nor the time taken for transactions, are coming down.
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Ethereum finally completed "The Merge". While moving to a Proof of Stake validation will bring down energy usage, the transition has already pulled down the cryptocurrency's exchange price.
Google has added a new countdown clock marking the days and hours to the merge, where Ethereum will switch to proof-of-stake. At the time of writing, the timer is reading less than three days.
A European Union Parliament committee has decided not to ban proof-of-work cryptocurrencies in the bloc. Such a ban would have affected the most popular cryptos including Bitcoin and Ethereum.
