Around IT in 256 seconds
Around IT in 256 seconds
Tomasz Nurkiewicz
#86: Proof of stake: how to cut global energy usage by 0.2%
4 minutes Posted Sep 19, 2022 at 8:07 pm.
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p>A few weeks ago Ethereum blockchain moved from proof-of-work to a
proof-of-stake algorithm. This step alone reduced global energy
consumption by 0.2%. It’s as much as an energy usage of Austria. At this
point, Ethereum, the second largest blockchain after Bitcoin, is using
barely as much electricity as a few hundred households. How is that
possible? How does the proof-of-stake algorithm work, avoiding
catastrophic energy waste?

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