How The Merge will slash Ethereum’s climate pollution
Ethereum just set The Merge in motion — and the stakes are huge for the planet. The Merge is arguably one of the most anticipated events yet in cryptocurrency history, when the Ethereum blockchain will switch from a disturbingly energy-hungry method of validating transactions to a new strategy that uses a fraction of the electricity as the network gobbled up before.
The transition is supposed to slash Ethereum’s energy consumption by a whopping 99.95 percent. That’s a seriously big deal since, just last week, the cryptocurrency network was estimated to use as much electricity annually as the country of Bangladesh. All that energy, of course, comes with a lot of carbon dioxide pollution that’s exacerbating climate change. Ethereum’s...