Ethereum green is a dream come true


Jakarta, Duniafintech.com Ethereum is green, right? The second most valuable cryptocurrency in the world, Ethereum has finalized plans to reduce carbon emissions by nearly 99.95%.

they change Ethereum Which has become environmentally friendly for a long time its proponents.

A software update known as “merging” will change the way transactions are managed on the Ethereum blockchain. This green Ethereum movement is said to reduce worldwide electricity consumption by 0.2%, thus introducing green Ethereum.

“Congratulations for putting it all together. This is a huge moment for the Ethereum ecosystem. Everyone who helped make the merger happen should be proud of today,” said Vitalik Buterin, founder of Ethereum.

Read also: Often mistaken for the same thing, this is the difference between Ethereum and Ethereum Classic

This way Ethereum will not be generated through a power-intensive process known as ‘mining’, where a bank of computers generates random numbers to validate transactions on the blockchain and generates new Ether tokens as part of the process.

The process, known as ‘Proof of Work’ in the cryptocurrency world, will now move to the ‘Proof of Stake’ system, where individuals and companies act as auditors, pledging or placing their ether as a form of collateral, to win newly created tokens.

“With this switch, Ethereum hopes to increase security, reduce power consumption, increase the number of users on the network, and increase its market value,” Deutsche Bank research analyst Marion Laboure wrote.

Read also: Best Ethereum Wallet Recommendation, Number One Most Popular

Many observers say that cryptocurrencies are harmful to the environment, but now it is undeniable with the existence of eco-friendly Ethereum. According to Digiconomist, a platform that tracks crypto energy usage calls for a single Ethereum transaction equal to the average weekly energy consumption of a household in the United States (US).

Ethereum fell 0.7% after the news, briefly trading at $1,592.78. Bitcoin, the world’s most valuable cryptocurrency, is also down about 1% and briefly trading at $2,704 according to CoinDesk.

Read also: The moment of consolidation has the potential to raise the price of Ethereum

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