Bitcoin energy tracker CambridgeAltFin has calculated Ethereum’s power consumption since the network went live in 2015 up until last year’s move to proof-of-stake. IanAllison123 reports.
-based collectibles have expressed their concern over the amount of power needed to mint works on Ethereum.
If, for example, Bitcoin’s energy use is represented by Kuala Lumpur's Merdeka building, the second-highest in the world at some 678.9 meters , Ethereum’s previous mining consensus system would stand at the comparable height of the London Eye, a 135 meter-high observation wheel. As a PoS power consumer, Ethereum has shrunk to the size of a raspberry, according to CCAF.
While Ethereum’s energy consumption is now orders of magnitude smaller than Bitcoin’s, CCAF is careful not to take a view on which algorithm might be better or worse, said Neumüller. He told CoinDesk that, in his opinion, proof-of-stake is not a perfect substitute for proof-of-work, and that a lot of additional factors come into play.
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