The morning after a big software release can be both terrifying and exhilarating.
Kudos to the Ethereum team for pulling off a massively complex transition from Proof of Work to Proof of Stake. This reduces the energy consumption of the Ethereum blockchain by 99.95% (and global energy consumption by 0.2%).
I am still not convinced by the utility of the crypto ecosystem, and I am sure there will be bumps along the way. The transition to Proof of Stake will further entrench the power of those holding significant capital. Proof of Work meant influence aggregated to those who could deploy significant computing power by spending vast amounts of money on GPU hardware. The switch to Proof of Stake will remove the hardware intermediation layer. The massive savings in energy and speedups in transaction processing make it a worthwhile change.
Philosophical arguments aside, as a software engineer, I can appreciate a job well done 👏🏾👏🏾👏🏾.