Ethereum would like to sustainably reduce energy consumption with the new system
Little by little we are heading for a climate catastrophe. It is therefore high time that we leave climate-hostile technologies behind and switch to sustainable counterparts. Unfortunately, there has also been a trend for some years now that has partially nullified all of our efforts: cryptocurrencies. Because Bitcoin, Ethereum and Co. devour vast amounts of electricity every year.
This should soon be over with Ethereum. The second largest cryptocurrency wants to change its infrastructure in such a way that emissions are reduced on a large scale. Since Ethereum also hosts the infrastructure for other projects, changes could have a big impact.
The previous “Proof of Work” system required so many resources because highly complex mathematical calculations had to be carried out to ensure the security and independence of the overall system.
The new “Proof of Stake” model is simply based on the fact that it is no longer the person who consumes the most electricity that has more power, but that users use part of their currency when they make a decision.
Overall, savings of 2.51 megawatts are expected. As of today, the system is still consuming 5.13 megawatts. That is all of Peru’s energy needs. It remains to be seen whether this change will actually make the system more environmentally friendly and whether the demand for high-performance graphics cards will decrease somewhat. However, every step towards reducing energy consumption is one in the right direction.
Own opinion:
In my opinion, cryptocurrencies are one of the most unnecessary inventions of the 21st century. Of course, Bitcoin and Ethereum also bring certain advantages, the blockchain is always an interesting concept, but the disadvantages by far do not outweigh the advantages. So I continue to hope that the buzz around the digital currency will soon level off and that we can invest the energy in more important projects. Because we only have one planet.
Via The Guardian
