Ethereum Explaining that the update has reduced global energy use by 0.2%, Vitalik Buterin said that this is one of the biggest carbon reduction events ever.
Ethereum Now Emits Less Carbon Dioxide than a Few Hundreds of Houses in the US
According to Vitalik Buterin, founder of Ethereum ETH The update was one of the largest decarbonisation moves in history, reducing the world’s energy consumption by 0.2%.
This update reduced Ethereum’s energy use by 99.988% and carbon dioxide emissions by 99.992%.
According to a new report from the Crypto Carbon Rating Institute (CCRI), this reduction means that the ETH network now emits less CO2 than several hundred US households emit during one year of electricity use.
“We are delighted to receive this report from CCRI, proving that ETH Merge is the largest carbon reduction effort of any industry in history,” said Joseph Lubin, co-founder of ETH and ConsenSys.
Jared Polis, also a former US congressman, congratulated Vitalik Buterin and expressed his satisfaction for the decrease in energy consumption.
Congratulations to the Ethereum Team, @VitalikButerin and everyone who worked on the merge to proof of stake last night! This move will reduce worldwide electricity consumption by more than .2%!
— Jared Polis (@jaredpolis) September 15, 2022
The amount of energy consumed by PoW, the way Bitcoin and other blockchains work, has been harshly criticized by lawmakers and politicians around the world.
However, some bitcoin Proponents emphasize that Bitcoin mining uses more renewable energy than any other industry and can help the world transition to clean energy.
Michael Saylor, who transformed Microstrategy from just a software developer into a corporate Bitcoin company, also argues that Bitcoin mining is the most efficient and cleanest industrial use of electricity.
On the other hand, miners who were mining ETH before the Merge update, ETH Classic (ETC), Ravencoin (RVN) and Beam (BEAM) Like mining, it has moved on to mining other PoW-based digital assets.
*Not investment advice.
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