Merge

"Consolidation" is the name of the event that Ethereum blockchain changed from using the Proof of work consensus mechanism to the PoS consensus mechanism.

It is called a 'merger' because it is a merger of two independent blockchains currently running in parallel. The Ethereum main network is "merging" with a special-purpose blockchain called "beacon chain".

The Beacon Chain was launched on December 1, 2020, with the sole purpose of becoming a Proof of Rights (PoS) blockchain.

There are no transactions on the beacon chain, and there are no Token or DeFi applications. It is an 'empty chain' simply to become a blockchain running the PoS consensus mechanism.

Because the beacon chain is an "empty chain", it can be merged with the Ethereum blockchain and replace the PoW consensus mechanism of Ethereum without worrying about any other variables.

Once these two chains are merged, Ethereum's PoW verification will be replaced by the new PoS consensus mechanism.