Crypto’s top 2 currencies (Bitcoin and Ethereum) have been constantly criticised due to their energy consumption over the years.
On the 15th of September 2022, Ethereum main net completed the merge with its beacon chain, turning Ethereum from a Proof of Work network into a Proof of Stake network.
Ethereum’s energy consumption dropped by an estimated 99.95%. The merge thus marked the start of a new era for Ethereum in terms of sustainability and eco-friendliness.
The new total energy expenditure for securing the Ethereum network is now closer to 0.01 TWh/yr.