Ethereum went green last year. The second most popular crypto platform has switched to proof of stake, an energy-efficient framework for adding new transaction blocks, NFTs and other information to the blockchain.
When Ethereum completed an update known as “Merge” in September, it reduced its direct energy consumption by 99%. Meanwhile, Bitcoin continues to consume as much energy as the entire country of the Philippines, with one Bitcoin transaction using the same amount of energy as one US household for nearly a month.
But change may be on the horizon. While the bitcoin community has historically been fiercely resistant to change, pressure from regulators and environmentalists fed up with bitcoin’s massive carbon footprint could force them to reconsider that position.
So what will it take to make the switch? Read the story in its entirety.
—Amy Castor
This is part of ours TR Explain series where our writers untangle the complex, messy world of technology to help you figure out what’s next. You can read more about them here.
If you want to read more about Ethereum:
+ Why Ethereum Moved to Proof of Stake.Read the story in its entirety.
+ Our history since the merger. Read the story in its entirety.
