https://blog.dshr.org/2022/10/the-power-of-ethereums-merge.html
'The laudable goal of Ethereum's "Merge", the long-awaited transition from
Proof-of-Work to Proof-of-Stake, was to eliminate more than 99% of the massive
environmental damage caused by Ethereum's consuming about half as much power as
Bitcoin. There are many reasons to criticize Proof-of-Stake, but the Merge
definitely achieved this goal. We can no longer point the finger at Ethereum
and its users and claim they are wrecking the climate half as much as Bitcoin.
However, as usual when cryptocurrency advocates tout claims like "more than
99%" it is necessary to apply skepticism. From the planet's point of view the
issue is not whether the Merge reduced Ethereum's carbon emissions, but whether
the Merge reduced the carbon emissions of cryptocurrencies as a whole. The
answer is "not so much". Below the fold I discuss the details and estimate the
real reduction to be ~35%, because most of the power has been diverted to
mining Bitcoin.'
Via
Attack of the 50 Foot Blockchain 18th October 2022:
<
https://davidgerard.co.uk/blockchain/2022/10/18/news-us-treasury-on-the-threat-of-crypto-failed-corporate-nfts-sec-vs-yuga-labs-urbit-tries-again/>
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
