The Merge brings down Ethereum’s network power consumption by over 99.9%

The Merge, which is taken into account one of the vital vital blockchain upgrades on Ethereum so far, introduced down the community’s vitality consumption by 99.9% instantly.

On Sept. 15, the Ethereum blockchain migrated from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism in an effort to transition right into a inexperienced blockchain. What adopted was a direct and steep drop in whole vitality consumption of the Ethereum community.

The Ethereum Power Consumption Index. Supply: digiconomist.web

Earlier than the Merge improve, in 2022, the vitality consumption of Ethereum ranged between 46.31 terawatt hour (TWh) per yr to 93.98 TWh per yr. The bottom vitality consumption for Ethereum was recorded on Dec. 26, 2019, at 4.75 TWh per yr.

The estimated annual vitality consumption in TWh/yr for numerous industries. Supply:

Ranging from Oct. 15, the day of the Ethereum Merge, Ethereum’s vitality dropped down by over 99.9% and continues to take care of low vitality utilization. Consequently, the community’s carbon footprint presently stands at 0.1 million tonnes of CO2 (MtCO2) per yr.

When translated to single Ethereum transactions, {the electrical} consumption is as little as 0.03-kilowatt hour (kWh) and the carbon footprint stands at 0.01 kgCO2, which, based on digiconomist, is equal to the vitality used when watching two hours of YouTube.

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Regardless of the celebrations round Ethereum’s transition to PoS, neighborhood members raised issues associated to the blockchain’s centralization and better regulatory scrutiny.

The centralization side turned evident proper after the Merge, as 46.15% of the nodes for storing information, processing transactions and including new blockchain blocks could possibly be attributed to simply two addresses.

Whereas Ethereum proponents declare that anybody with 32 Ether (ETH) can turn into a validator, you will need to be aware that 32 ETH, or round $41,416, isn’t a small quantity for a beginner or widespread dealer.