 a year, roughly 0.05 per cent of the total energy produced worldwide, to only 0.01TWh, according to the publication Digiconomist.'Ethereum has gone from using the same amount of energy as a small country to being the equivalent of a tech start-up. That's the scale of this change,' says Tim Beiko, a lead developer at the Ethereum Foundation, a non-profit organisation. The upgrade has barely moved ethereum's price, which){kind=link}
In September ethereum, the world’s second-largest cryptocurrency, underwent a radical transformation. A long-awaited upgrade, known as “the merge”, brought an end to the highly energy-intensive mining process used to create new “coins”. The upgrade is estimated to have slashed ethereum’s energy consumption by 99.9 per cent. Energy usage fell from about 84 terawatt hours (TWh) a year, roughly 0.05 per cent of the total energy produced worldwide, to only 0.01TWh, according to the publication Digiconomist.
“Ethereum has gone from using the same amount of energy as a small country to being the equivalent of a tech start-up. That’s the scale of this change,” says Tim Beiko, a lead developer at the Ethereum Foundation, a non-profit organisation. The upgrade has barely moved ethereum’s price, which
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