Ethereum’s Switch to POS Expected to Reduce Its Carbon Footprint by 99.95%
September 26, 2022 (Investorideas.com Newswire) According to an analysis by CryptoMonday.de, Ethereum’s switch to POS will reduce its carbon footprint by 99.95%.
Speaking on the data, CryptoMonday CEO Jonathan Merry said. “For several reasons, the move represents a fundamental shift for Ethereum and cryptocurrencies. It increases the number of people who may participate in the Ethereum blockchain’s validation. Moreover, it lessens its carbon footprint when global temperatures rise. Thus, enhancing the public’s perception of cryptocurrencies.” He further added that crypto adoption might go up. “
Environmentally Friendly Blockchains
Carbon zero or Carbon Neutral is the new normal, and Ethereum Foundation is one step closer to achieving that. The recent switch from POW to POS reduces the carbon footprint and is more secure and scalable. The move has also attracted some recognition from various communities.
A slew of new cryptocurrencies has taken on the title of being environmentally responsible and utilizing proof of stake.
One of the most well-known names is Cardano, whose launch of smart contracts has caused some crypto watchers to be hopeful for its capability to address real-world problems. Tron’s annual energy consumption is approximately 99.9% less than Bitcoin and Ethereum, using 162,868 kWh for over 2.31 billion transactions yearly. Ripple (XRP) is another eco-friendly token that experts are highly optimistic about.
Ethereum’s POS switch is a big step in the right direction for the cryptocurrency industry. As more and more firms begin to adopt eco-friendly practices, we can expect to see a reduction in the carbon footprint of the entire sector. Full story and statistics can be found here: Ethereum’s Switch to POS Expected to Reduce Its Carbon Footprint by 99.95%
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