Last year, Ethereum went green. The second most popular crypto platform has moved to proof-of-stake, a power-efficient framework for adding new transaction blocks, NFTs, and other information to the blockchain.
When Ethereum completed the upgrade, known as the “merge,” in September, it reduced its direct power consumption by 99%. Meanwhile, Bitcoin continues to consume as much energy as the entire country of the Philippines, with a single Bitcoin transaction using the same amount of energy as a single US household for almost a month.
But change may be on the horizon. Although the Bitcoin community has always been fiercely resistant to change, pressure from regulators and environmentalists who are fed up with Bitcoin’s massive carbon footprint may force them to rethink that stance.
So what would it take to make a change? Read the full story.
—Amy Beaver
It’s part of our TR explains series, in which our writers unravel the complex and messy world of technology to help you understand what’s next. You can read more here.
If you want to know more about Ethereum:
+ Why Ethereum switched to proof-of-stake.Read the full story.
+ Our story from when The Merge happened. Read the full story.
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