Last year, Ethereum went green. The second-most popular crypto platform transitioned to proof of stake, an energy-efficient framework for adding new blocks of transactions, NFTs, and other information to the blockchain.
When Ethereum completed the upgrade, known as “the Merge,” in September, it reduced its direct energy consumption by 99%. Meanwhile, Bitcoin continues to consume as much energy as the entire country of the Philippines, with a single Bitcoin transaction using the same amount of energy as a single US household over the course of nearly a month.
But change may be on the horizon. Although the Bitcoin community has historically been fiercely resistant to change, pressure from regulators and environmentalists fed up with Bitcoin’s massive carbon footprint may force them to rethink that stance.
So what would it take to make a switch? Read the full story.
—Amy Castor
This is part of our TR Explains series, in which our writers untangle the complex, messy world of technology to help you understand what’s coming next. You can read more of them here.
If you’d like to read more about Ethereum:
+ Why Ethereum switched to proof of stake.Read the full story.
+ Our story from when The Merge happened. Read the full story.