Cryptocurrencies on the road to sustainability: Ethereum paving the way for Bitcoin

【Author】 De Vries, Alex

【Source】PATTERNS

【影响因子】0.000

【Abstract】Amid the current climate emergency and global energy crisis, regulators have started to consider their op-tions to limit the power demand of cryptocurrency networks. One specific way crypto-asset communities can limit their environmental impact is by avoiding or replacing the energy-intensive proof-of-work (PoW) mining mechanism. Ethereum, the second largest crypto-asset by market capitalization, had its PoW re-placed with an alternative known as proof-of-stake during an event called The Merge on September 15, 2022. In this perspective, the likely range of electricity saved due to this change is estimated, while the lim-itations in assessing these figures are highlighted. Lastly, the challenges and opportunities in replicating The Merge on other cryptocurrencies such as Bitcoin are discussed.

【Keywords】

【发表时间】2023 JAN 13

【收录时间】2023-02-27

【文献类型】观点阐述

【主题类别】

区块链治理-市场治理-数字货币