Transition to Proof-of-Stake Continues to Drive Successes
Since Ethereum’s “Merge” transitioned from proof-of-work to proof-of-stake in September 2022, the blockchain has been transformed, and the network has flourished. The flywheel of successes has many drivers.
One of the main benefits of the transition to proof-of-stake is the significant reduction in energy usage. Before the merge, Ethereum miners’ estimated energy consumption was in the range of 90 terawatt hours per year, equivalent to the energy usage of 18 million homes.