Ethereum finishes its final test prior to the massive merging.

By The Exchange Team

Ethereum, the second-largest cryptocurrency by market value, had a final dress rehearsal before a years-awaited upgrade.

Since its inception nearly a decade ago, Ethereum has been mined using a model known as proof-of-work.

It needs difficult math equations that requires massive number of machines and a lot of energy. Mining Bitcoin is similar.

Ethereum has been trying to adopt a new network security paradigm called proof of stake.

The new method uses users' existing ether cache to verify transactions and generate tokens, rather than energy-intensive mining.

Ansgar Dietrichs, an Ethereum Foundation researcher, said the most meaningful statistic for success is time to finalisation.

Ether, the Ethereum blockchain token, has risen about 80% in the last month, including a 10% gain in the last 24 hours to $1,875.