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#86: Proof of stake: how to cut global energy usage by 0.2%

September 19, 2022 | 3 Minute Read

A few weeks ago Ethereum blockchain moved from proof-of-work to a proof-of-stake algorithm. This step alone reduced global energy consumption by 0.2%. It’s as much as an energy usage of Austria. At this point, Ethereum, the second largest blockchain after Bitcoin, is using barely as much electricity as a few hundred households. How is that possible? How does the proof-of-stake algorithm work, avoiding catastrophic energy waste?

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Tags: cryptocurrencies, ethereum, proof-of-stake, proof-of-work

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