Ethereum network completes merge that could cut its electricity use by 99%
Posted: Sat Sep 17, 2022 6:28 am
https://www.cbc.ca/news/business/ethere ... -1.6584585
A complex software change to the cryptocurrency ethereum was completed on Wednesday, one that holds the potential to dramatically reduce its energy consumption and resulting climate effects.
With the change enacted late Wednesday, ethereum — the world's second most valuable cryptocurrency after bitcoin — has effectively eliminated the energy-intensive task of "mining" new coins on its blockchain. Mining requires enormous computing power, which translates to huge energy consumption and, in many areas, greater greenhouse gas emissions at older power plants.
By itself, however, the ethereum change won't eliminate crypto's expected environmental impact, although it's expected to help a great deal. The backers of bitcoin have so far shown little interest in doing away with mining.
A complex software change to the cryptocurrency ethereum was completed on Wednesday, one that holds the potential to dramatically reduce its energy consumption and resulting climate effects.
With the change enacted late Wednesday, ethereum — the world's second most valuable cryptocurrency after bitcoin — has effectively eliminated the energy-intensive task of "mining" new coins on its blockchain. Mining requires enormous computing power, which translates to huge energy consumption and, in many areas, greater greenhouse gas emissions at older power plants.
By itself, however, the ethereum change won't eliminate crypto's expected environmental impact, although it's expected to help a great deal. The backers of bitcoin have so far shown little interest in doing away with mining.