A blockchain platform completed a sea change in September 2022 that brought its electricity consumption to almost zero, Outlook India reported.
The Ethereum upgrade, named The Merge, ditched its power-hungry mining system for a simpler verification process. The grid previously burned 23 million megawatt hours each year. After the transition, annual consumption fell to 2,600 megawatt hours, going from attracting a small country to attracting a handful of office towers.
Before The Merge, Ethereum relied on mining. Thousands of machines around the world competed to solve mathematical equations, with only one winner receiving payment while the others wasted electricity on failed attempts. This proof of work system still uses Bitcoin.
Ethereum has moved to proof-of-stake, where users deposit their coins to validate transactions rather than using power-hungry equipment. Standard computers can now participate in the validation process, eliminating the need for expensive mining hardware.
Carbon production increased from 11 million tonnes per year to 870 tonnes. Individual transactions now generate less than a hundredth of a kilogram of CO2, compared to more than a hundred kilograms previously.
The cryptocurrency climate nexus is complicated. Bitcoin and other mining-dependent networks consume a ton of electricity, in many cases coming from fossil fuel facilities. This has turned crypto into a lightning rod for climate critics.
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But this area supports the growth of clean energy. Many cryptocurrency mining facilities now operate using renewable sources such as solar, wind, and hydroelectricity. Some miners help fund green energy projects by buying electricity that grids can’t use.
Ethereum’s move shows that the industry can reduce its carbon footprint when motivated. It remains an open question whether competing blockchain networks will take similar steps or cling to power-intensive designs.
The transition has expanded the number of people who can help secure the network outside of those wealthy enough to purchase mining hardware. Application developers working on Ethereum can now call their products climate-friendly, a claim that was previously unavailable.
This shift shows what digital networks can accomplish when they prioritize efficiency.
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