The upcoming upgrade of Ethereum will reduce energy consumption by nearly 100%, a researcher at the Ethereum Foundation said in a blog post.
- According to Ethereum Foundation Researcher Carl Beekhuizen, the ETH 2.0 will end the process of exhausting a country’s worth of energy on consensus.
By my (very conservative) calculations, Ethereum will see a greater than ~99.95% reduction in energy use post merge.— carlbeek.eth (@CarlBeek) May 18, 2021
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- Based on “conservative” calculations, Beekhuizen said Ethereum will see a greater than 99.95% reduction in energy use post merge.
- With ETH 2.0, the energy needed for every transaction is equivalent to some 20 minutes of television.
- Meanwhile, a transaction on Proof-of-Work (POW) needs the energy equivalent to the power consumed by a house for 2.8 days.
- A Proof of Stake Ethereum consumes some 2.62 megawatts, equivalent to that used by a small town of around 2,100 American homes.
- In comparison, A POW consensus on Ethereum consumes the energy equivalent to a medium-sized country.
- “While Ethereum continues to use POW for now, that won’t be the case for much longer,” Beekhuizen said.
- Ethereum was last trading down 36.94% to $2,061.74 at 3:23 p.m. GMT.