How Will Ethereum 2.0 Reduce Energy Consumption? | CoinMarketCap

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Ethereum Mainnet is expected to merge with the beacon chain proof-of-stake system in early 2022. Find out how it is expected to reduce Ethereum's energy consumption by an estimated 99.95%.

As a PoW blockchain, Ethereum suffers from the same criticism as Bitcoin.control the network, yet the growing competitive nature of this activity requires investing in more powerful hardware. While newer generations of miners are often more energy-efficient, there is also a higher demand for bringing more devices online. That ongoing progress creates a bigger carbon footprint for PoW blockchains. In this era of climate justice, that is not a good approach.

The broader accessibility of staking and validating borrows certain elements of a PoW network. Attackers still require control overresources or more to perform an attack. However, there is a big disincentive to do so, as a failed attack results in the attacker losing their collateral in ETH for bad behavior. That brings us to another benefit of PoS, as it eliminates the energy expended on arbitrary computations.

 

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Hope it comes with a reduction in gas fee as well...

Lol turning to a proof of stake. We say welcome. (We've been a proof of stake)

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