In a move many years in development, the world’s second-largest cryptocurrency, Ethereum (ETH), merged with the Beacon Chain on 15 September. This replaced the original proof-of-work mechanism on the Mainnnet with a proof-of-stake consensus layer that ultimately reduces energy use by 99.95%. Rather than utilizing miners (whose computers use a lot of energy to record transactions to the blockchain), ETH’s value now comes from currency staked in …
Ethereum’s “Merge” Cuts Energy Use by 99.95%
