Tag: Ethereum consensus mechanism: Proof of Stake

Ethereum Consensus Mechanism: Proof of Stake (PoS) Pain Points: The Energy Dilemma Ethereum’s original Proof of Work (PoW) consensus mechanism consumed 112 TWh annually—equivalent to the Netherlands’ energy usage (Cambridge Bitcoin Electricity Consumption Index, 2023). This unsustainable model forced network upgrades, with gas fees peaking at $200 per transaction during 2021 NFT booms. Solution: Proof…