LogInThe Merge reduced Ethereum's energy consumption by about 99.95%.
Ethereum has finally completed The Merge – an upgrade to the cryptocurrency platform – meaning its Mainnet (main network) now uses proof of stake, a way to validate transactions through randomly selected validators. According to its website, The Merge reduced Ethereum's energy consumption by around 99.95% by eliminating the need for energy-intensive mining and enabled the network to be secured using staked Ethereum.
Before, Ethereum used the proof-of-work mechanism, which required crypto miners to solve computational puzzles to validate new blocks on the chain and earn new tokens in return. The process consumed a lot of energy, so the switch to proof of stake is less energy-consuming and, allegedly, provides more security and sustainability. It removes puzzles and instead requires validators to stake some of their tokens to validate new blocks of transactions and be rewarded with tokens in return.
It is hard to say how this will affect the crypto world, but the highly anticipated merge has seemingly boosted enthusiasm and technical possibility for Ethereum.
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