Ethereum Will Use Less Energy Now That It’s Proof-of-stake

Ethereum, the second largest cryptocurrency, has moved to proof-of-stake. 

This will reduce its energy consumption. Although the transition has been underway since 2016,

It won't make much difference for average Ethereum users. However, it will affect miners. 

On September 6, the Bellatrix upgrade was activated, and the switchover was complete. 

It is now complete after the mining of the Terminal Total Difficulty block, which triggered the Paris upgrade. 

Ethereum was based on proof-of-work before the Merge.

This meant that computers from all over the globe competed to solve puzzles to add another block to the chain.

This was very energy-inefficient as all the miners had to solve the same puzzle simultaneously. 

Only one of them could win, and all the energy was wasted. 

On the other hand, proof of stake has validators who have put up their Ethereum as collateral. They'll lose their Ethereum if they do not behave.

According to the Ethereum Foundation, the switch will lower energy costs by more than 99 percent.

Since 2017, the Merge has been repeatedly delayed, leading to jokes about it being vaporware. It's vaporware until it ships.