The Merge, which is considered one of the most significant blockchain upgrades on Ethereum (ETH) to date, brought down the network’s energy consumption by 99.9% immediately. On Sept. 15, the Ethereum blockchain migrated from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism in an effort to transition into a green blockchain. What followed was an immediate and steep drop in total energy consumption of the Ethereum network. The Ethereum Energy Consumption Index. Source: digiconomist.net Before the Merge upgrade, in 2022, the energy consumption of Ethereum ranged between 46 ...
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