• Ethereum completed its radical shift to a more energy-friendly system for powering its network in 2022.
• Concerns around censorship and record-shattering hacks on Ethereum-linked infrastructure were major themes of the year.
• The Merge, Ethereum’s massive, years-in-the-making upgrade, marked a massive reduction to the network’s energy footprint, but also led to charges that it is becoming too centralized.

In 2022, Ethereum saw a number of significant milestones and events. The year marked a radical shift in Ethereum’s network, as the blockchain finally completed its transition to a more energy-friendly system for powering its network. This transition, referred to as the Merge, was the result of years of planning and was a major reduction to the network’s energy consumption.

However, the year was not without problems. Concerns around censorship, as well as record-shattering hacks on Ethereum-linked infrastructure, were at the forefront of many discussions. Despite the Merge being a major step forward, it was met with criticism from some who argued that it was leading to an overly centralized network. Additionally, the Merge failed to spur the long-hoped-for bump in the price of ether (ETH), the chain’s native currency, further complicating the situation.

The Merge was the most significant event for Ethereum in 2022, but it was far from the only one. The year also saw a number of other changes and upgrades, such as the introduction of new tools to support developers, as well as the launch of Ethereum 2.0, which is designed to address the scalability issues that have been plaguing the network for some time.

Overall, Ethereum had a tumultuous yet successful year in 2022. The Merge marked a major shift in the network’s architecture, while other upgrades and changes have put the blockchain on a path to becoming a global computer and decentralized financial system. Despite the difficulties, Ethereum has made impressive strides in the past year and appears to be on track to continue its steady progress in the years to come.

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