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?
- Proof Of Stake Explained
- Ethereum Energy Consumption Index
- How The Merge will slash Ethereum’s climate pollution
- How many computers are mining bitcoin?
- Vitalik Buterin Says Ethereum Merge Cut Global Energy Usage by 0.2%, One of Biggest Decarbonization Events Ever
- Proof of Stake: The Making of Ethereum and the Philosophy of Blockchains