A radical update last week to the Ethereum cryptocurrency was supposed to reduce energy consumption by 99 per cent, but the savings have so far failed to materialise as miners evicted
from the network flock to other currencies. Estimates suggest that at least 50 per cent of energy hungry mining hardware formerly running Ethereum has now been put to use mining other coins.
so as a science magazine your saying that Ethereum is still running at the energy usage it was before the update?
It was supposed to & did reduce energy consumption of Ethereum by 99+%. The energy consumption argument in general of POW chains has been deliberately exaggerated to build an anti crypto narrative to lay the groundwork for CBDC’s. Do some real research rather than follow WEF.
Prob a sabotage
Yeah, that's not gonna work. They will realize soon enough that the cost of the mining is greater than the profit to be made.
ie a dead parrot 🦜
Completely false narrative from New Scientist
All miners should pay their own bills. What’s the contention here? Aren’t they all about decentralised and individual control? Ffs
they said Ethereum's energy consumption will be down by 99% not global crypto. Ethereum is the future in 5-10 years.
Well, what a surprise
Highly doubt that. Judging by the flood of used GPU for sale right now, surely a big portion of miners definitely stopped, making ethereum’s switch to PoS quite significant.
as expected. Seriously, did anyone thought that miners will be like: 'oh! one big cryptocurrency is not available, let's sell our ASICs for the price of scrap metal' ?
WTF does that have to do w/ Ethereum?
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