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Since Ethereum launched in 2015, some of its biggest champions, including its creator Vitalik Buterin, have been talking about upgrading it from proof of work to proof of stake. There are numerous advantages to this upgrade, not least of which being that the network could process more transactions while consuming about 99% less electricity. So what's happening now is that there is the current Ethereum blockchain running on a proof of work consensus mechanism. And there's a new blockchain called the Beacon Chain running a proof of stake consensus mechanism. And when the software is ready, Ethereum will merge the two blockchains and then terminate transactions on the proof of work chain. This upgrade, the "merge" is now planned for August. And today's test merge of the two chains on Ethereum's Ropsten testnet is one of the last steps before it officially happens. We get you psyched.

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DISCLAIMER: Current in Crypto does not offer financial or legal advice, nor does it represent the official views of Coinbase, Inc.

Ethereum testing the merge on the Ropsten testnet today