Ethereum’s Energy Efficiency Transition Lauded as “Momentous win for the climate” and “just the Beginning”
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The Ethereum blockchain has successfully transitioned today to an operating and security mechanism that requires 99.95% less electricity. This accomplishment is being applauded by a wide range of voices inside and outside of the tech community.
We, the undersigned, would like to congratulate the teams responsible for successfully accomplishing Ethereum's transition to “proof-of-stake” today!
This change (also known as “The Merge”) will end the use of energy-intensive, warehouse scale, computer equipment that has been used up until now to secure Ethereum's blockchain transactions.
This transition will reduce the energy consumption of the Ethereum blockchain by an estimated 99.95%.
The “Merge” is the successful merging of two separate blockchains, one that is energy intensive by design and another is energy efficient by design in order to switch the existing Ethereum blockchain to the more efficient option.