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UNBELIEVABLE: Crypto world can t wait for the merge | History Defined

Crypto Merge Ethereum Danny Ryan Vitalik Buterin Mining Bitcoin Ereum Foundation San Francisco

Banks of computers are used to mine cryptocurrencies in La Plata, Argentina. A long-awaited upgrade to Ethereum, the most popular crypto platform, may make the technology more environmentally sustainable. But it comes with risks. (Sarah Pabst/The New York Times)

SAN FRANCISCO: The cryptocurrency industry has endured a terrible year. A devastating crash wiped nearly $1 trillion from the market, draining the savings of thousands of people. Several companies filed for bankruptcy.

Now the industry is fixated on a potential saving grace: a long-awaited software upgrade to the most popular cryptocurrency platform, ethereum, which provides the technological backbone for thousands of crypto projects. The upgrade — known as the Merge — has gained near-mythical status after years of delays that left some insiders questioning whether it would ever happen.

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