Last year, Ethereum went green. The second most popular crypto platform has moved to proof-of-stake, an energy-efficient way to add new blocks of transactions, NFTs and other data to the blockchain.
When Ethereum completed the so-called “merger” update in September, it reduced its direct energy consumption by 99%. Meanwhile, Bitcoin continues to consume as much energy as the Philippines, using nearly the same amount of energy per Bitcoin transaction as an American household in a month.
But change may be on the horizon. Although the Bitcoin community has historically been adamantly resistant to change, pressure from regulators and environmentalists educated by Bitcoin’s massive carbon footprint may force them to rethink that position.
So what does it take to change? Read the full story.
This is part of us. TR explains. series, where our writers unravel the complex world of technology to help you understand what’s coming next. You can read more here.
If you want to read more about Ethereum:
+ Why did Ethereum turn into Proof of Stake?Read the full story.
+ Our history of when the merger happened. Read the full story.